Wiz: The Rise and Record-Breaking Acquisition by Google
In the rapidly evolving landscape of cloud security, few companies have ascended as quickly as Wiz. Founded with a vision to secure the modern cloud, Wiz transitioned from a stealth startup to the center of the largest cybersecurity acquisition in history. Its journey is a testament to the critical importance of cloud infrastructure protection in the digital age.
Key Facts
- Founded: January 2020 by Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak.
- Acquisition Price: $32 billion all-cash deal by Google.
- Total Funding: $1.9 billion raised across five funding rounds.
- Strategic Integration: Now a part of Google Cloud.
- Record Status: The most expensive acquisition Google has ever made in any sector.
Founding and Early Growth
Wiz was established in January 2020 by a team of experienced entrepreneurs: Assaf Rappaport (CEO), Yinon Costica (VP of Product), Roy Reznik (VP of Engineering), and Ami Luttwak (CTO). All four founders previously collaborated to launch Adallom, providing them with a deep foundation in security architecture.
The company's growth was fueled by aggressive strategic acquisitions to expand its capabilities. In December 2023, Wiz acquired Raftt, a cloud-based developer collaboration platform, for $50 million. This was followed in April 2024 by the $350 million acquisition of Gem Security, a startup specializing in cloud detection and response (the process of identifying and mitigating threats within cloud environments). While a potential deal with Lacework fell through in May 2024 during the due diligence process, Wiz continued its expansion by acquiring Dazz, a risk management and security remediation startup, in November 2024 for $450 million in a cash-and-share deal.
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The Path to the Alphabet Acquisition
The road to joining Alphabet Inc. began in March 2024 when Google and Alphabet CEO Sundar Pichai contacted Assaf Rappaport. Although the initial outreach was missed until May, a subsequent meeting at the Googleplex in Mountain View, California, with Pichai and Google Cloud CEO Thomas Kurian set the stage for negotiations.
Google initially offered a valuation of $23 billion, which Wiz declined in favor of pursuing an Initial Public Offering (IPO). However, shifts in the IPO market and a more favorable mergers and acquisitions (M&A) environment under the Trump administration led to a revived deal. On March 18, 2025, Google announced the acquisition of Wiz for $32 billion in cash.
The deal faced regulatory scrutiny but received unconditional approval from the European Union’s antitrust authorities in February 2026. The European Commission determined that the merger would not substantially reduce competition in cloud computing or cybersecurity. The acquisition was officially completed on March 11, 2026, marking the largest technology acquisition involving an Israeli-founded company.
Funding and Valuation History
Before its acquisition, Wiz demonstrated an extraordinary ability to attract capital, raising a total of $1.9 billion through five primary funding rounds. This capital allowed the company to scale its operations and valuation rapidly.
| Round | Date | Amount Raised | Valuation | Key Investors |
|---|---|---|---|---|
| Series A | Dec 2020 | $100 Million | N/A | Index Ventures, Sequoia Capital, Insight Partners, Cyberstarts |
| Series B | Apr/May 2021 | $250 Million | $1.7 Billion | Greenoaks, Index Ventures, Sequoia Capital, Insight Partners, Cyberstarts |
| Series C | Oct 2021 | $250 Million | $6 Billion | Greenoaks, Salesforce Ventures, Bernard Arnault, Howard Schultz |
| Series D | Feb 2023 | $300 Million | $10 Billion | Greenoaks Capital, Lightspeed Venture Partners |
| Series E | May 2024 | $1 Billion | $12 Billion | Andreessen Horowitz, Thrive Capital, Greylock Partners, Wellington Management |
Frequently Asked Questions
Who founded Wiz?
Wiz was founded in January 2020 by Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak, all of whom were previously founders of Adallom.
How much did Google pay to acquire Wiz?
Google acquired Wiz for $32 billion in an all-cash transaction, completed on March 11, 2026.
What other companies did Wiz acquire before joining Google?
Wiz acquired Raftt ($50 million), Gem Security (~$350 million), and Dazz ($450 million).
Why did Wiz choose an acquisition over an IPO?
While Wiz initially intended to go public, weakness in the IPO market and a favorable M&A environment led the company to accept Google's offer.
Did the European Union approve the acquisition?
Yes, in February 2026, the European Union's antitrust authorities gave unconditional approval, concluding that the deal would not substantially lessen competition in the cybersecurity and cloud computing markets.