Wiz revealed on Thursday that it will buy channel-focused company Dazz in an agreement to add cloud remediation capabilities to the vendor’s cloud and AI security platform.
With features like application security posture management and continuous threat and exposure management, Dazz provides a remediation-focused cloud security platform.
Jared Phipps, a seasoned cybersecurity industry executive who most recently worked for SentinelOne, was hired by Dazz in February as its CRO as the business sought to expand its collaboration with channel partners. Presidio, situated in New York, has been one of the key partners.
Dazz said in July that it has raised a $50 million round of funding, increasing its total funding since its 2021 launch to $110 million.
Dazz provides a “industry-leading remediation engine,” according to a post published on Thursday by Wiz Co-Founder and CEO Assaf Rappaport, which will allow Wiz to “empower security teams to correlate data from multiple sources and manage application risks in one unified platform.”
This is Wiz’s third purchase overall and its second acquisition of 2024 after the company’s April acquisition of cloud detection and response provider Gem Security.
Wiz, a four-year-old startup, reported in May that it had raised $1 billion in new capital at a $12 billion valuation, citing its continued strong development in the cloud and AI security areas. Annual recurring revenue (ARR) for the business reportedly increased from $350 million earlier this year to above $500 million.
After making a number of management additions aimed at facilitating quicker partner-driven growth, Rappaport stated in February that Wiz would prioritize its channel operations moving ahead.
I“In cybersecurity partners are super, super important in the success of a company. So we’ve always [seen that] this has huge potential for us to tap into. I think there is so much more we can do,” he stated at the time.