Cloud security vendor Wiz has reached $10 billion valuation in the wake of a $300 million Series D round. Wiz plans to use the latest investment for product development and to increase the size of its workforce.

Security teams can use Wiz's cloud security platform to analyze infrastructure hosted in public cloud services such as Amazon Web Services, Azure, and Google Cloud, as well as to monitor infrastructure-as-code, APIs, and containers for vulnerabilities and misconfigurations. The platform consolidates a range of capabilities, including cloud security posture management, external attack surface management, cloud detection and response, and cloud-native application protection. At the heart of Wiz’s offering is the "security graph," which triages and correlates attack paths so that developer and security teams have information about the cause of a breach and how to respond.

The company's rise has been stratospheric, launching in March 2020 and hitting unicorn status a year later with a valuation of $1.7 billion. Wiz was valued at $6 billion after raising $250 million in a Series C funding round in October 2021. Wiz has raised $900 million to date.

The excitement around Wiz underscores a red-hot cloud security market that has accelerated as organizations shift more of their workloads to the cloud to accommodate a growing remote workforce and to support digital transformation initiatives. There are several cloud security vendors carving out space in the market, such as Palo Alto Networks and Check Point, and quite a few are chasing venture capital funding, such as Sentra, Gem Security, Dig Security, Laminar, and Ops Security.