April 10, 2024 at 05:15PM
Wiz has acquired New York-based startup Gem Security for $10 billion. This aims to enhance Wiz’s Cloud Detection and Response (CDR) capabilities and consolidate its Cloud Native Application Protection Platform (CNAPP). The deal sees Gem’s technology and employees joining Wiz, positioning Wiz as the world’s leading cloud security platform with a focus on M&A opportunities.
Key Takeaways from the Meeting Notes:
– Wiz, a cloud security leader, has acquired New York-based startup Gem Security.
– The acquisition aims to enhance Wiz’s Cloud Native Application Protection Platform (CNAPP) with Gem’s technology, advancing Wiz’s Cloud Detection and Response (CDR) capabilities.
– To address tool sprawl, siloes, and visibility gaps, Wiz aims to become the go-to platform for protecting cloud environments.
– Gem Security, founded in 2022, offers a real-time Cloud Detection and Response (CDR) solution, and its employees, including the co-founders, will join Wiz.
– This acquisition marks Wiz’s second after acquiring Raftt in December and aligns with their mission to build a holistic cloud security platform.
– Wiz, targeting $1 billion in revenue, is considering a potential Wall Street IPO and has expressed interest in M&A opportunities.
– The leaders of Wiz and Gem Security expressed excitement about the collaboration, emphasizing the value they aim to bring to the security operations industry.
– Wiz, backed by prominent investors, serves a diverse range of organizations globally and has a strong customer base in renowned companies.
For further information, refer to https://www.wiz.io/blog.
About Wiz:
Wiz, founded in 2020, is witnessing rapid growth and serves major organizations globally to identify and mitigate risks in cloud environments. It is backed by prominent investors and counts 40% of the Fortune 100 among its customers.