Wiz’s strategic expansion through acquisitions
In 2012, when venture capitalist Gili Raanan endorsed Assaf Rappaport’s startup, Adallom, he had no idea that the enterprise would later be sold for $320 million.
Indeed, in 2015, Microsoft acquired Adallom and rebranded it as Cloud App Security, an essential element in Microsoft’s comprehensive security platform.
This acquisition signaled the market’s increasing awareness of the dire need for cloud security tools.
Rappaport, together with co-founders Ami Luttwak and Roy Reznik, capitalized on Raanan’s mentorship and the strong support from his investment firm, Sequoia Capital.
After guiding their venture to remarkable heights, Rappaport assumed an executive position at Microsoft, steering its successful cybersecurity operation.
Fast forward to today; Rappaport is heading Wiz, a notable entity in the cloud security realm, actively exploring expansion possibilities, potentially through mergers and acquisitions.
Recently, Wiz took over Rafft, a developer-centric cloud platform, and subsequently made a more substantial acquisition of Gem Security, a company specialized in cloud detection and response.
This strategic acquisition not only fortifies Wiz’s status in the cybersecurity landscape but also equips it better to provide inclusive cloud security solutions to its customers.
Founded in 2020, Wiz is headquartered in New York and, so far, has attracted about $900 million from financial supporters.
The overwhelming backing from a diverse group of investors has skyrocketed the company’s estimated value to an impressive $10 billion.
Rappaport and Arie Zilberstein, CEO and Co-founder of Gem Security, share a similar background in the cybersecurity sector, having both served with the cyber division of the Israeli Defense Forces, Unit 8200.
Moreover, both have been at the helm of successful startups that eventually got acquired.
Their combined experience has been essential in driving the success of Gem Security.
During the acquisition, Zilberstein praised Rappaport’s extensive experience and perceived it as a critical component in fostering solid trust between them, leading to a successful deal.
Zilberstein also expressed great optimism about the untapped potential that their partnership promises.
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