Cloud security company Wiz, recognised as a leader in cloud-native application protection, has announced a strategic investment from SoftBank Vision Fund 2. The funding aims to support Wiz’s expansion efforts in the Asia-Pacific and Japan (APJ) region.
The amount of funding was not disclosed, but SoftBank Vision Fund 2, known for its backing of innovative tech companies, led the investment. The partnership marks a significant step in Wiz’s global expansion strategy.
Wiz specialises in Cloud Native Application Protection Platforms (CNAPP), providing comprehensive security solutions for cloud and AI environments. The company has rapidly gained traction among major enterprises, including 45% of the Fortune 100, by offering advanced security from build to runtime.
This new investment will enable Wiz to bolster its presence in the APAC region by expanding its go-to-market operations, establishing deeper customer relationships, and doubling its workforce in the region by the end of 2024. The company has already set up a data centre in Sydney and made significant hires across Japan, Singapore, Australia, and New Zealand.
Dmitri Chen, a seasoned executive with experience at Dell EMC, Automation Anywhere, and New Relic, has been appointed to lead Wiz’s growth in the APAC market. His expertise in talent cultivation, partner development, and revenue generation is expected to play a pivotal role in Wiz’s regional strategy.
Wiz COO and president Dali Rajic said, “As we double down on our global expansion strategy, partnering with a world-class venture capital firm like SoftBank is pivotal to scaling our operations in the Asia-Pacific region.
“It goes hand in hand with hiring top tier talent to oversee these expansion efforts. We look forward to collaborating closely with the SoftBank team on meeting the specific needs of this strategic market, with the mission of providing the most innovative technologies to our growing client base.”
SoftBank Investment Advisers managing partner Brett Rochkind added, “Many of the world’s largest companies have already recognized that cloud-native tech stacks need best-in-class cloud security from build to runtime. We believe that with its superior technology and incredible execution, Wiz is a game-changer for the cloud security market.”
In May, Wiz raised $1bn at a $12bn valuation, bringing its total funding to $1.9bn.
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