Wiz, a leading cloud security vendor valued at $10 billion, has announced its acquisition of Gem Security, a New York-based startup specializing in real-time cloud detection and response (CDR). This acquisition marks Wiz’s second strategic acquisition aimed at enhancing its cloud security platform’s capabilities.
While the financial terms of the acquisition were not disclosed by Wiz, sources close to the deal estimate the acquisition price to be approximately $350 million. Gem Security’s innovative technology complements Wiz’s existing offerings, further empowering organizations to detect and respond to cloud-native attacks in real-time.
Founded in 2020, Wiz has experienced rapid growth, surpassing $350 million in annual recurring revenue and becoming the top-valued unicorn in cybersecurity. The acquisition of Gem Security follows Wiz’s acquisition of cloud developer collaboration startup Raftt in December.
Gem Security, established in 2022, specializes in real-time CDR solutions designed to expedite investigation times for the containment of cloud-native threats. By integrating Gem Security’s technology into its platform, Wiz aims to provide customers with enhanced visibility and proactive threat response capabilities, addressing the evolving security challenges in cloud environments.
The acquisition also brings onboard Gem Security’s talented team, including CEO Arie Zilberstein, CTO Ron Konigsberg, and product vice president Ofir Brukner, who will join Wiz’s executive team. Gem Security had previously secured $34 million in funding from investors such as IBM Ventures, Cisco Investments, Team8, Notable Capital, and Silicon Valley CISO Investments.
Wiz Co-Founder and CEO Assaf Rappaport emphasized the strategic importance of consolidation in the security industry, stating, “Consolidation is the future of the security industry.” By integrating Gem Security’s capabilities into its platform, Wiz aims to offer customers a comprehensive and unified solution to protect their cloud environments from emerging threats.
As Wiz continues to expand its presence in the cloud security market and pursue its goal of becoming a public company, the acquisition of Gem Security underscores its commitment to innovation and customer-centric solutions. With its strengthened portfolio of offerings, Wiz is well-positioned to address the evolving security needs of organizations operating in cloud-native environments.
