Wiz hits $350 million in ARR, plans to add 400 employees in 2024
The cloud security unicorn also announced the appointment of Dali Rajic, former President and COO of Zscaler, as its President and Chief Operating Officer. “We are eager to reach the future milestone of $1 billion as we look toward an IPO,” said Assaf Rappaport, CEO & co-founder of Wiz
Israeli cloud security unicorn Wiz revealed on Monday that it has reached an impressive $350 million in Annual Recurring Revenue (ARR) just four years since its inception. Wiz, which serves over 40% of the Fortune 100, also announced the appointment of Dali Rajic as President and Chief Operating Officer. Rajic, the former President and COO of Zscaler, is an industry veteran with over 25 years of experience in building and scaling go-to-market teams and operations for tech companies. He will oversee Wiz’s growth strategy and operating models, and according to the company “help steer the company through the next phases of its rapid growth on the road to IPO.”
Wiz, which has garnered $900 million in funding to date, boasting a recent valuation of $10 billion, has set itself a target of reaching a billion dollars in sales. With 900 employees across the U.S., Europe, Asia, and Israel, it plans to add 400 workers globally in 2024.
Before joining Zscaler, Rajic served as Chief Customer and Revenue Officer at AppDynamics (acquired by Cisco), where he helped take the company from $7 million to nearly $1 billion in ARR.
“Wiz has always pursued ambitious growth, setting high standards for customer value and moving extremely fast to innovate on behalf of those customers with new offerings like the Wiz Runtime Sensor and AI-SPM. The upcoming year will be no different, and we are eager to reach the future milestone of $1 billion as we look toward an IPO,” said Assaf Rappaport, CEO and co-founder of Wiz. “Zscaler presents an inspiring example of amazing technology with strong execution and a fantastic go-to-market motion. Dali has successfully scaled some of the world's most innovative companies, and we’re thrilled to welcome him to the Wiz team.”
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“I've had the good fortune to work at some truly incredible companies, but nothing in my experience matches Wiz in terms of market opportunity, innovation, customer obsession, and speed of execution,” said Dali Rajic, President & COO of Wiz. “The opportunity to spearhead the transformation of a $350 million ARR company into a cloud security powerhouse is an irresistible challenge. We are set to change the face of cybersecurity and I’m thrilled to get started."
Wiz customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda, among others. Wiz is backed by Sequoia, Index Ventures, Insight Partners, Salesforce, Blackstone, Advent, Greenoaks, Lightspeed and Aglaé.
