Wiz Expands Cloud Detection and Response Offerings with $350 Million Acquisition of Gem Security
While the financial terms of the deal remain undisclosed, industry experts estimate its value at a substantial $350 million in cash.
In a landmark move, cybersecurity trailblazer Wiz has solidified its position as a leader in cloud security with the acquisition of Gem Security. While the financial terms of the deal remain undisclosed, industry experts estimate its value at a substantial $350 million in cash. This acquisition comes on the heels of Wiz's recent announcement of reaching $350 million in Annual Recurring Revenue (ARR), with an impressive client roster boasting over 40% of the Fortune 100 companies.
Wiz, valued at an impressive $10 billion and having raised a staggering $900 million to date, continues to make waves in the cybersecurity landscape. The integration of Gem Security into its portfolio further enhances Wiz's capabilities in Cloud Detection and Response (CDR), positioning the company at the forefront of cloud security innovation.
Founded in 2022, Gem Security has swiftly gained recognition for its pioneering approach to cloud threat detection. Unlike static solutions prevalent in the industry, Gem's real-time CDR solution offers unparalleled visibility into multi-cloud environments, empowering organizations to swiftly identify and contain cloud-native threats. With $34 million in funding from esteemed investors such as Team8, Notable Capital (formerly GGV Capital), IBM Ventures, Cisco Investments, and Silicon Valley CISO Investments (SVCI), Gem has garnered widespread acclaim for its innovative technology.
The acquisition sees Gem's talented workforce, including its co-founders CEO Arie Zilberstein, CTO Ron Konigsberg, and VP Product Ofir Brukner, join forces with Wiz. This strategic move underscores Wiz's commitment to assembling a world-class team of cybersecurity experts dedicated to driving innovation in cloud security.
Assaf Rappaport, Co-Founder and CEO, Wiz, expressed his enthusiasm for the acquisition, highlighting the synergies between Wiz's market-leading CNAPP platform and Gem's cutting-edge CDR solution. By integrating Gem's technology into its ecosystem, Wiz aims to provide customers with a comprehensive suite of cloud security solutions that address the evolving threat landscape.
With Gem Security now a part of its arsenal, Wiz is well-positioned to spearhead the next phase of cloud security evolution. As organizations increasingly embrace cloud-native technologies, Wiz remains steadfast in its mission to empower businesses with robust security solutions that safeguard their digital assets against emerging threats.
“Consolidation is the future of the security industry. With cloud infrastructure growing at an accelerated pace, not to mention the broad adoption of AI applications, the world’s largest organizations require consolidated, cloud-native security platforms to effectively address a wide and ever-changing range of security needs,” said Assaf Rappaport, Co-Founder and CEO, Wiz. “The acquisition of Gem brings the industry’s leading CDR to Wiz. Coupled with our CNAPP, which customers have ranked number one, we’re creating a powerful real-time solution for SOC and Cyber Defense teams to combat emerging threats and building the world’s leading cloud security platform.”
"Since our inception two years ago, Gem has been revolutionizing the way organizations approach security operations in the cloud," said Arie Zilberstein, Co-Founder & CEO of Gem Security. "Together with Wiz, we're thrilled to deliver even more value to security operations teams around the world as part of Wiz's industry-leading platform. We look forward to joining the team and embarking on a new chapter of Gem's growth journey with Wiz."
