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Cybersecurity company Wiz is aiming to reach $1 billion in annual recurring revenue next year, according to co-founder Roy Reznik. The company, which was founded by former members of Israel’s intelligence unit, develops software that scans cloud storage services for security risks. Wiz recently turned down a $23 billion acquisition offer from Google, opting instead to pursue an independent path towards going public.
Wiz has raised nearly $2 billion in venture capital funding and achieved $100 million in annual recurring revenue in 2022. The company is now focused on doubling its revenue to $500 million and hitting $1 billion in annual recurring revenue by 2025. Additionally, Wiz has expanded its presence internationally, with a recent opening of an office in London.
Reznik highlighted the growth potential in the UK cybersecurity market, citing recent cyberattacks on major organizations as a driving force for increased interest in security solutions. Wiz’s customer base includes prominent UK companies like ASOS and Revolut, underscoring the company’s strong position in the market. Reznik expressed confidence in Wiz’s ability to continue breaking records as an independent public company.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
