Israeli cloud security company Wiz has announced its first acquisition, securing the Israeli startup Raftt, founded in 2020 by Roi Yarachi and Gal Sharaf. While the financial details of the deal remain undisclosed, Raftt had previously raised $5 million in a seed round from Elef and Kardoman Capital funds, along with contributions from private investors such as Adi Shahrabani, Ariel Maislos, Benny Schneider, and others.
Raftt, a non-cyber company, has developed a cloud platform focused on creating and sharing user-friendly development environments. The platform aims to enhance collaboration between developers and various organizational departments, adapting DevOps infrastructures to meet developers' needs.
Wiz, with a valuation of $10 billion and having raised $900 million to date, emphasizes that the acquisition is not about expanding into cybersecurity but rather supporting the developer community. Over half of Wiz's platform users are developers, not necessarily cybersecurity professionals. The acquisition is expected to integrate Raftt's capabilities into Wiz's cloud protection platform, enabling both security and development professionals to optimize processes and build securely throughout the software development lifecycle.
Wiz, founded in 2020 by Assaf Rappaport, Ami Lutbek, Yanon Kostica, and Roy Reznik, currently boasts an annualized sales rate (ARR) exceeding $250 million. With the addition of Raftt's 10 employees to its existing team of 850, Wiz aims to further strengthen its position in the cloud security market by fostering improved collaboration and efficiency for developers.