Hey there, 👋
Welcome to another edition of ZluriLand!
Last month, a cybersecurity startup called Wiz made headlines when it went from $1M to $100 ARR in just 18 months — becoming the fastest to do so. 📈
This naturally piqued our interest so we decided to take a deeper look at how they did it!
Firstly, the large-scale shift to remote work in 2020 increased the adoption of cloud networks. As businesses globally sought to secure their digital assets, it created a perfect market opportunity for Wiz.
Next, the company also aggressively focused on high-value customers right from the start - such as thought leaders of the security world. Today, the startup protects more than 25% of the Fortune 100.
💡 Interesting fact: The founders of Wiz previously built Microsoft’s Azure Cloud Security Group to $1.5 billion in revenue.
But what’s more important is the technology that enabled this. 💻
According to the company, Wiz wins nine out of 10 competitive bids. The reason? It takes less time for deployment.
You see, cybersecurity companies usually install agents on devices for performing security related-actions.
Agents are software that must be installed on devices. A good example of an agent is antivirus software that is installed on a computer to monitor for malware.
The traditional approach involves installing agents on all devices. As a result, obtaining 100% coverage takes months and even years.
Now, Wiz uses an agentless solution. This allows them to immediately deploy and gives full coverage of cloud environments in minutes. More importantly, it can be used to scale to support organisations of any size.
According to an Accenture report, there were on average 270 attacks per company in 2021. For companies, every second of exposure carries a risk. And taking months for deployment won't cut it anymore.
Not only do companies want the best, but they also want it fast. With Wiz's speedy agentless deployment, businesses were able to derive value immediately.
Lastly, as for Wiz, they were able to whizz past the $100M ARR milestone! 🚀
Cheers!
Shahul
Product Marketer, Zluri
