Wiz, one of the most talked-about names in the world of cybersecurity, is making a significant acquisition to expand its product reach in cloud security, particularly with developers. It is buying Dazz, a specialist in security remediation and risk management. Sources tell us the deal is valued at $450 million in a mix of cash and shares.
This is a bump on the startup’s last funding round. In July, we reported that Dazz raised $50 million on a post-money valuation of just under $400 million.
Remediation and posture management — the two areas where Dazz focuses — are key services in the cybersecurity market that Wiz was not covering as well as it wanted to.
“Dazz is the leader in this market, with the best talent and the best customers, and it’s a great culture fit,” said Assaf Rappaport, Wiz’s CEO, in an interview.
Remediation, which refers to helping to understand and resolve vulnerabilities, gives shape to how an enterprise actually tackles the many vulnerability alerts they might receive from across their networks. Posture management is a more preemptive product: it gives an organization a better understanding of the size, shape and function of its network from the perspective to build better security services around that.
Dazz will continue to operate as a separate entity while it’s integrated into the larger Wiz stack. Wiz has built a name for itself as a “one-stop-shop”, and Rappaport said that an integrated offering will continue to be a major part of that.
He believes that is in contrast with how a lot of other SaaS businesses have been built. In the security industry, there are, Rappaport said, “a lot of Frankenstein mashups, where companies are prioritizing revenues over building one technology stack that actually works as a platform.” Arguably, integration is even more import …