Today, Dazz, an Israeli startup that specializes in comprehensive security remediation, announced the conclusion of a $50 million fundraising round that was co-led by Greylock and included Cyberstarts, Insight Partners, and Index Ventures. With its most recent investment round, the company has raised $110 million in total. Reports claiming the money was raised at a valuation of close to $400 million were not accompanied by a valuation.
The additional funding will help Dazz achieve its goal of assisting engineering and security teams in effectively lowering exposure and accelerating the company’s pace in redefining risk prioritization and remediation through the use of AI technology.
CEO Merav Bahat, CTO Tomer Schwartz, and VP R&D Yuval Ofir launched Dazz in 2021. With Fortune 500 and hyper-growth organizations like BHG Financial, Healthfirst, TaxSlayer, iCapital, and Abnormal Security across the financial services, healthcare, pharmaceutical, technology, retail, and manufacturing sectors, Dazz claims to have seen rapid customer growth.
With the help of the Dazz Unified Remediation Platform, users have been able to automatically identify and manage 1.2 billion vulnerabilities as well as fix about 500 million problems at their core. This has resulted in considerable time savings for security and engineering as well as a sharp decrease in the likelihood of security incidents.
Dazz claims that between 2023 and 2024, it tripled its sales team, expanded into the US, Europe, and Israel, and saw a 400% increase in annual recurring revenue (ARR).
According to Bahat, “In a world where security breaches occur on average every 11 seconds, the constant rise in AI-powered threats presents a prominent danger of more efficient and scalable attacks. At Dazz, we are experiencing remarkable business momentum, thanks to a critical market gap that Dazz uniquely addresses. The last year proved that our innovation and execution leads to unprecedented growth, which this new round of funding will accelerate.”
Through unique AI, automation, and root-cause analysis technologies, Dazz has significantly affected legacy vulnerability management and remediation methods. These technologies allow security and engineering teams to find, prioritize, and resolve vulnerabilities in a matter of hours rather than weeks. With regard to code, clouds, security vulnerabilities, and lowering the Mean Time to Remediate, the company’s Unified Remediation Platform offers comprehensive visibility across all detection tools and environments.