• Wiz, a cloud security startup, has raised USD 250 million in a Series C funding round co-led by Insight Partners and Greenoaks Capital, with participation from Sequoia Capital, Index Ventures, CyberStarts, billionaire Bernard Arnault, Howard Schultz (Starbucks founder), and Salesforce Ventures. The round values the company at USD 6 billion, a more than three-fold increase from the USD 1.7 billion sticker price achieved during its last raise in May 2021. Wiz’s total funding now stands at USD 600 million.

• The company expects to use the funds to support more public cloud applications beyond Amazon Web Services, Microsoft Azure, Google Cloud, and to pursue mergers and acquisitions.

• Wiz has reported “tens of millions” of dollars in revenue and counts 15% of the Fortune 500 among its customers. The company plans to add over 300 employees to its headcount of 180 members from Israel, the US, and Europe.

• Wiz announced that the latest funding round was “hugely oversubscribed,” and the company had to limit the round to existing investors and turn down several term sheets.

<ul><li> Analyst QuickTake: Wiz’s funding comes five months after a USD 120 million extension to its Series B from Salesforce. The investment in Wiz is the fourth by Insight Partners in the next-gen cybersecurity industry since September. Before this, the company led the Series A rounds of cloud-native application security platforms Adaptive Shield and DeepFactor and participated in network detection and response (NDR) startup Corelight’s Series D round .</li>