Cybersecurity unicorn Wiz has embarked on its maiden acquisition journey, securing Israeli startup Raftt, a trailblazer in cloud-based development environment solutions. This strategic move marks a significant milestone for Wiz, a cybersecurity powerhouse that has rapidly ascended the industry ranks since its establishment approximately four years ago. Wiz’s latest acquisition targets Raftt, an Israeli startup renowned for its innovative cloud-based platform tailored for the creation and sharing of development environments. While the exact financial details of the deal remain undisclosed, industry insiders estimate the transaction value to be in the tens of millions of dollars, underscoring the strategic importance of the acquisition.

Established in 2020, Raftt secured $5 million in funding through a round led by Aleph VC and Cardumen Capital. The startup garnered support from notable private investors, including seasoned entrepreneurs Ariel Maislos and Benny Schneider, devtools angel investors Adi Sharabani, founder of Skycure and currently at Snyk, and Ariel Asraf, CEO of Coralogix.

Raftt’s Innovative Approach to Development Environments

At the heart of Raftt’s value proposition is its cloud-based platform designed to streamline the development process. The startup specializes in providing developer environments that operate seamlessly in the cloud, fostering collaboration while integrating with existing local Integrated Development Environments (IDEs) and other tools and workflows. With Raftt’s solution, developers gain the ability to eliminate setup complexities and inconsistencies between environments, creating an unlimited array of environments tailored to diverse needs.

Founded by Roy Iarchy, serving as CEO, and Gahl Saraf, CTO, both seasoned senior developers with experience in the Intelligence Corps of the IDF, Raftt has demonstrated its prowess in addressing the intricate challenges of the development landscape. Iarchy, previously the R&D Group Manager at Skycure (acquired by Symantec), and Saraf, who served as a tech lead and architect at Meta, have brought their extensive expertise to Raftt’s innovative offerings.

Strategic Integration and Growth Prospects

Wiz’s acquisition of Raftt is not merely a financial transaction but a strategic alignment of technological prowess. Between 10-20 Raftt employees are expected to seamlessly integrate into Wiz’s research and development teams in Israel, further enriching the talent pool of the cybersecurity giant.

Wiz, having recently raised $300 million in a Series D funding round at an impressive $10 billion valuation, is in a robust financial position. The company reports an Annual Recurring Revenue (ARR) surpassing $250 million, attesting to its strong market presence and continued growth.

Navigating Challenges and Expanding Global Footprint

Despite the challenging global landscape, Wiz remains committed to its growth trajectory. Co-founder and CTO of Wiz, Ami Luttwak, emphasized the company’s goal of absorbing all Raftt employees and highlighted the significance of overcoming challenges during a tumultuous time. The integration of Raftt’s capabilities into Wiz’s existing portfolio is expected to yield a groundbreaking product, unveiling unprecedented offerings in the cybersecurity market.

Luttwak acknowledged the complex nature of acquisitions during challenging times, citing personal and global challenges. However, he emphasized the importance of pushing forward, ensuring business continuity, and meeting customer needs amid growth.

As Wiz welcomes Raftt into its fold, the acquisition solidifies Wiz’s commitment to addressing the dynamic intersection of security and cloud development. The amalgamation of Raftt’s advanced technology for developers with Wiz’s cybersecurity expertise represents a formidable synergy poised to make waves in the cybersecurity realm.

A New Chapter: Raftt’s Perspective

From Raftt’s standpoint, the decision to join forces with Wiz represents an unparalleled opportunity. Roy Iarchy, CEO of Raftt, expressed excitement about entering the cybersecurity field and becoming part of a company reshaping the landscape of cloud security. The acquisition underscores Raftt’s evolution from a developer-focused solution to a significant player in the cybersecurity domain.

As the dust settles on this transformative acquisition, both Wiz and Raftt look ahead to a future marked by innovation, collaboration, and a shared commitment to advancing cybersecurity solutions in an ever-evolving digital landscape.

By Admin

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