U.S.-Israeli cybersecurity startup Wiz is reportedly exploring the sale of existing shares with a potential valuation between $15 billion and $20 billion, according to a Bloomberg News report released on Tuesday. The proposed transaction would allow current shareholders to sell between $500 million and $700 million of their stakes in the company.
This development follows Wiz’s recent discussions with Alphabet, Google’s parent company, regarding a proposed $23 billion acquisition, which the startup ended in July. This valuation represented a significant increase from the $1 billion Wiz raised in a private funding round announced in May.
Venture capital firms involved in the potential share sale include G Squared, Thrive Capital, and Lightspeed Venture Partners. The company and the venture firms have yet to respond to inquiries from Reuters regarding the report.
Wiz specializes in cloud-based cybersecurity solutions, utilizing artificial intelligence to help businesses identify and mitigate critical risks on cloud platforms.
