Highlights:

  • Raftt has concentrated on ensuring the security of cloud-based application development pipelines and frameworks and employs approximately 20 staff members.
  • Wiz surpassed USD 250 million in revenues this year and secured an impressive USD 300 million in a funding round conducted this past February.

Cybersecurity Company Wiz Inc. has revealed its first corporate acquisition with the procurement of the cybersecurity firm Raftt. Established three years ago, Raftt secured USD 5 million in funding from various private and public venture capital firms. Notable backers include Adi Sharabani, the founder of Skycure Ltd. and presently associated with Snyk Ltd., and Ariel Asraf, the CEO of Coralogix Ltd. The specific details of the deal were not disclosed; however, according to a report from Bloomberg, the estimated value ranges between USD 40 million and USD 50 million.

Raftt has concentrated on ensuring the security of cloud-based application development pipelines and frameworks and employs approximately 20 staff members. Co-founder and CEO of Raftt Roy Iarchy said, “The opportunity to be part of Wiz was one we couldn’t pass up. At Raftt, we lived and breathed the world of developers.” The company’s tool enables developers to transfer their runtime environment to the cloud for testing and debugging, utilizing a range of existing local tools.

“Wiz now brings a unified view from runtime to development, clear risk analysis, and simplified operations that breaks down the operational silos between security and Dev teams,” said Wiz CEO Assaf Rappaport. “The Raftt team will help us introduce new capabilities for preventing costly production issues at the source.” The company anticipates integrating Raftt’s features into its flagship platform within the next few months.

Wiz already boasts a robust developer base, with over half of its users positioned outside the security function, as per company representatives. The acquisition is set to empower security and development teams to collaboratively and proactively shrink their attack surface from build time to runtime.

Wiz surpassed USD 250 million in revenues this year and secured an impressive USD 300 million in a funding round conducted this past February. Consolidating the staff of the two companies will be a straightforward logistical process, as their offices are situated within a few miles of each other in Tel Aviv.