Cybersecurity startup Dazz, a company founded by a former Microsoft CEO and leading Israeli cybersecurity experts, Announced Tuesday it has raised $ 60 million in a new round of funding.
Venture capital firms participating in the funding round include Insight Partners (Steve Ward), Greylock (Asheem Chandna and Sarah Guo), Index Ventures (Shardul Shah) and Cyberstarts (Gili Raanan), according to a company statement.
The company said it will expand its engineering team and create a U.S. marketing organization with offices in Palo Alto and New York.
Founded in September 2021, Dazz addresses the urgent need for security created by the rapid adoption of cloud computing, which has been accelerated by the pandemic. Dazz resolves vulnerabilities and prevents risks in cloud development environments with unaddressed security concerns.
“Our vision is to solve a critical set of problems while improving the effectiveness of collaboration between security teams and their business partners,” said founder and CEO Merav Bahat. “To do that, even before writing a single line of code, our team worked closely with customers and we continue to listen and understand their concerns and pains.”
Bahat served as General Manager of Cloud Security Business for Microsoft and was also Executive Vice President of Microsoft Israel R&D. She co-founded the company with Chief Technology Officer Tomer Schwartz and Vice President of R&D Yuval Ofir, acclaimed leaders in cybersecurity with decades of combined experience solving cloud and cybersecurity challenges in global enterprises.
Schwartz co-founded IoT security leader Armis, a company acquired by Insight Partners early last year. He was also head of research at Adallom and founded the Microsoft Security Response Center in Israel. Ofir, he led R&D at industrial cybersecurity leader Claroty and was a leader in the Israel Defense Forces’ prestigious 8200 intelligence unit.
Dazz already has 30 employees, who are said to be among the best engineering talents in Israel. The company plans to use the new funds to expand the team to 50. It also plans to use the funds to build a similar-sized merchandising and operations organization, including sales, marketing, customer success, and operations in the United States. States, targeting Fortune 500 and fast-growing tech companies.
“Businesses are accelerating their transition to the cloud,” said Asheem Chandna, partner at Greylock. “Dazz bridges the gap between developers and production, helping teams quickly remediate and resolve security issues in the cloud.”
“Dazz’s vision of solving a critical set of cybersecurity issues related to development and cloud environments and the need for continuous deployment for its business partners makes it a leading platform in the enterprise space,” said Steve Ward, Managing Director of Insight Partners.
Ward will join the company’s board of directors.