Wiz achieves $100Mn ARR in just 18 months

Just two years after its launch, Cloud security startup Wiz claims to be the fastest company ever to $100 million in annual recurring revenue (ARR), scaling from $1 million to $100 million in ARR in just over 18 months, from February 2021 to approximately July 2022.

The company released its first product about 18 months ago. In December, the company announced a $550 million Series A on a $6 billion valuation. The company has not been standing still since the fundraising, but continues to invest deeply into the product creating a series of new services that point to it becoming a platform play, including support for all major clouds like AWS, Microsoft and Google, along with Oracle and Alibaba clouds.

Co-founder and CEO Assaf Rappaport said, “First of all, to be the fastest company to $100 million ARR is not a goal [we had]. And it’s not, by the way, a guarantee for future success. It’s a milestone. It’s a small milestone in a long journey for us.”

He further said, “We believe [being a] quality company trumps pricing, and the difference is only time. And so a quality company will excel for the long term. And [regardless of what you pay], quality is how we have learned over the years we generate our greatest returns. And so the question is really, is this a quality company, and early indicators in the first 18 months would suggest that it is and far more, and that then tells us that we’re going to be rewarded over the long-term horizon.”