Dazz Dazzles With $60 Million Raised

<p><strong><span class&equals;"xn-location">PALO ALTO<&sol;span> <&sol;strong>&&num;8212&semi; Dazz&comma; a cloud security remediation company&comma; has closed on a new round of funding and that it has raised a total of <span class&equals;"xn-money">&dollar;60 million<&sol;span> to date&period; The company will expand its engineering team and build a go-to-market organization in <span class&equals;"xn-location">the United States<&sol;span> with offices in <span class&equals;"xn-location">Palo Alto<&sol;span> and <span class&equals;"xn-location">New York<&sol;span>&period;<&sol;p>&NewLine;<p>Venture capital firms participating in the funding round include Insight Partners &lpar;<span class&equals;"xn-person">Steve Ward<&sol;span>&rpar;&comma; Greylock &lpar;Asheem Chandna and <span class&equals;"xn-person">Sarah Guo<&sol;span>&rpar;&comma; Index Ventures &lpar;<span class&equals;"xn-person">Shardul Shah<&sol;span>&rpar;&comma; and Cyberstarts &lpar;<span class&equals;"xn-person">Gili Raanan<&sol;span>&rpar;&period;<&sol;p>&NewLine;<p>Dazz&&num;8217&semi;s technology addresses the urgent security need created by the rapid adoption of cloud computing&comma; which has been accelerated by the pandemic&comma; and which <u>McKinsey predicts<&sol;u> will grow six times the speed of IT spending&period; While cloud and application security tools today alert on issues like code flaws and infrastructure misconfigurations&comma; Dazz takes aim at the long-ignored and painful remediation process&period; The company&&num;8217&semi;s automated solution cuts customers&&num;8217&semi; alert queues&comma; vastly reduces the mean time to remediate issues&comma; and eases tension between security and engineering teams&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Our vision is to solve a critical set of problems while improving the effectiveness of collaboration between security teams and their business partners&comma;&&num;8221&semi; said founder and CEO <span class&equals;"xn-person">Merav Bahat<&sol;span>&period; &&num;8220&semi;To do that&comma; even before writing a single line of code&comma; our team worked closely with customers&comma; and we continue to listen and understand their concerns and pains&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Bahat served as the General Manager of the Cloud Security Business for Microsoft&comma; and was also the Deputy CEO of Microsoft Israel R&amp&semi;D&period;  She co-founded the company with CTO&comma; <span class&equals;"xn-person">Tomer Schwartz<&sol;span> and VP R&amp&semi;D&comma; <span class&equals;"xn-person">Yuval Ofir<&sol;span>&comma; who are acclaimed cybersecurity leaders with decades of combined experience solving cloud and cybersecurity challenges across global enterprises&period;<&sol;p>&NewLine;<p>Schwartz&comma; co-founded IoT security leader Armis&comma; was head of research at Adallom&comma; and founded the Microsoft Security Response Center in <span class&equals;"xn-location">Israel<&sol;span>&period; Ofir&comma; headed R&amp&semi;D at industrial cybersecurity leader Claroty and was a leader in the prestigious Israeli Defense Forces intelligence unit 8200&period;<&sol;p>&NewLine;<p>Dazz has 30 employees — among the top engineering talent in <span class&equals;"xn-location">Israel<&sol;span> — and plans to use the new funds to expand the team to 50&period;  It also plans to use the funds to build a go-to-market and operations organization of similar size&comma; including sales&comma; marketing&comma; customer success and operations in <span class&equals;"xn-location">the United States<&sol;span>&comma; targeting Fortune 500 and fast growing tech companies&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Enterprises are accelerating their move to the cloud&comma;&&num;8221&semi; said Asheem Chandna&comma; Partner at Greylock&period; &&num;8220&semi;Dazz bridges the gap between developers and production&comma; helping teams rapidly remediate and resolve cloud security issues&period;&&num;8221&semi;<&sol;p>&NewLine;