Total amount raised
$110 Millions
Latest funding date
7/1/2024
Location
Dazz has successfully raised funding through multiple rounds, attracting notable investors such as Index Ventures and Cyberstarts. The company specializes in delivering unified security remediation across code, clouds, infrastructure, and applications for security and development teams.
Keep reading to explore the intricacies of Dazz's fundraising journey and the investors backing this innovative platform.
What Is Dazz?
Dazz, founded in 2021, is based in Palo Alto, California. The company was established by Merav Bahat, Tomer Schwartz, and Yuval Ofir.
Specializing in unified security remediation, Dazz focuses on identifying blind spots, prioritizing issues, and streamlining fixes within a developer-friendly workflow. This approach significantly reduces risk windows from weeks to hours.
With a team of 101-250 employees, Dazz continues to innovate in the field of security and development, providing essential tools for modern infrastructure and application security.
How Much Funding Has Dazz Raised?
- Seed Round
- Amount Raised: $10M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Series A
- Amount Raised: $50M
- Date: December 2021
- Lead Investors: Cyberstarts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Venture Round
- Amount Raised: $50M
- Date: July 2024
- Lead Investors: Greylock, Cyberstarts, Insight Partners, Index Ventures
- Valuation at Round: Nearly $400 million
- Motivation Behind the Round: To accelerate growth and enhance AI-powered security remediation technologies.
Total Amount Raised: $110M. Current Valuation: Nearly $400 million.
Key Investors
- Cyberstarts
- Details: Cyberstarts is a venture capital firm focused on early-stage cybersecurity startups. Founded by Gili Raanan, it provides both funding and strategic guidance to its portfolio companies.
- Investment Focus Areas: Cybersecurity startups.
- Notable Investments: Wiz, Fireblocks, Axis Security.
- Greylock
- Details: Greylock is a venture capital firm known for investing in early-stage companies. It has a strong track record in backing successful startups in the technology sector.
- Investment Focus Areas: Enterprise software, consumer internet, healthcare.
- Notable Investments: LinkedIn, Airbnb, Facebook.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. It supports companies across various stages, from early to growth stages.
- Investment Focus Areas: Enterprise software, consumer internet, fintech.
- Notable Investments: Dropbox, Slack, Robinhood.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology and software companies. It has a significant presence in the tech investment landscape.
- Investment Focus Areas: Growth-stage technology, software, internet businesses.
- Notable Investments: Twitter, Shopify, Qualtrics.
What's Next for Dazz?
As Dazz continues to expand its AI-powered cloud security remediation platform, the opportunities ahead are vast. The company is poised to address a critical market gap, leveraging its technology to manage and resolve vulnerabilities efficiently. With a 400% increase in Annual Recurring Revenue (ARR) and a growing customer base that includes Fortune 500 companies, the potential for further growth is substantial.
Future fundraising opportunities seem promising, given the significant market demand and investor interest. Dazz's recent $50 million funding round, bringing the total to $110 million, sets the stage for additional rounds to support its rapid expansion and technological advancements. However, the company will need to navigate challenges such as the constant rise in AI-powered threats and the complexities of scaling operations across multiple regions. Maintaining innovation and staying ahead of competitors will be crucial for Dazz's continued success in the cybersecurity landscape.
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