Wiz Buys Dev Collaboration Startup In First Acquisition

The cloud security unicorn says it has acquired fellow Israeli company Raftt.

Wiz announced its first acquisition to date in a deal for cloud developer collaboration startup Raftt.

The cloud security company did not disclose terms for the acquisition, although a Bloomberg report pegged the deal value at between $40 million and $50 million. Raftt brings fewer than 20 employees, a Wiz spokesperson told CRN.

[Related: The 10 Hottest Cloud Security Startup Companies Of 2023]

Founded in 2020, Wiz got a rapid start with its agentless tool for improving visibility in cloud environments, known as CSPM (cloud security posture management). The company reached $100 million in annual recurring revenue within 18 months of entering the market, Wiz said in August 2022, making it the fastest software company ever to do so.

Wiz went on to become the top-valued unicorn in cybersecurity earlier this year, with a valuation of $10 billion in connection with its $300 million funding round in February.

For the company, 2023 has seen a major expansion beyond its original agentless approach, as it has worked to build out a full CNAPP (cloud-native application protection platform) including agentless and agent-based tools.

As part of its CNAPP push, Wiz said that its acquisition of Raftt will boost its efforts to embed security further into the software development process.

Ultimately, Raftt will enable Wiz to add “new capabilities for preventing costly production issues at the source,” Wiz co-founder and CEO Assaf Rappaport said in a news release.

Like Wiz, Raftt was founded in Israel. The startup, which launched in early 2021, has reportedly raised $5 million in funding to date.