Wiz To Acquire Cloud Remediation Startup Dazz For $450 Million

The fast-growing company said it plans to extend its cloud and AI security platform with the ‘industry-leading remediation engine’ from Dazz.

Wiz announced Thursday it plans to acquire channel-focused startup Dazz in a deal that aims to extend the vendor’s cloud and AI security platform with cloud remediation capabilities.

Calcalist reported the price tag for the planned acquisition of Dazz at $450 million. CRN has reached out to Wiz and Dazz for comment. A source familiar with the deal confirmed the figure to CRN.

[Related: Cybersecurity M&A Push Continues With Acquisitions By N‑able, Bitsight, Silverfort]

Dazz offers a cloud security platform focused on remediation, including through capabilities such as application security posture management and continuous threat and exposure management.

In February, Dazz hired longtime cybersecurity industry executive Jared Phipps, most recently of SentinelOne, to be its CRO with the startup looking to scale up its work with channel partners. Key partners have included New York-based Presidio.

In July, Dazz announced raising a $50 million round of funding, bringing the startup to $110 million in total funding since its launch in 2021.

In a post Thursday, Wiz Co-Founder and CEO Assaf Rappaport said that Dazz brings an “industry-leading remediation engine” that will enable Wiz to “empower security teams to correlate data from multiple sources and manage application risks in one unified platform.”

It’s the second acquisition of 2024 for fast-growing Wiz, following its deal for cloud detection and response provider Gem Security in April, and its third acquisition overall.

In May, Wiz announced raising $1 billion in new funding at a $12 billion valuation as the four-year-old company said it continues to see surging growth in the cloud and AI security markets. The company’s annual recurring revenue (ARR) has reportedly surpassed $500 million, up from $350 million earlier this year.

Rappaport told CRN in February that Wiz would make its channel efforts a top priority going forward after a series of executive hires that seek to enable faster partner-driven growth.

“In cybersecurity partners are super, super important in the success of a company. So we’ve always [seen that] this has huge potential for us to tap into. I think there is so much more we can do,” he said at the time.