The fast-growing company announced plans to expand its cloud and AI security platform with Dazz’s “industry-leading remediation engine.”

Wiz on Thursday announced plans to acquire channel-focused startup Dazz in a deal to expand the vendor’s cloud and AI security platform with cloud remediation capabilities.

Calcalist reported the price of the planned acquisition of Dazz at $450 million. CRN has contacted Wiz and Dazz for comment. A source close to the matter confirmed this figure to CRN.

(Related: Cybersecurity M&A Continues with Acquisitions of N‑able, Bitsight and Silverfort)

Dazz offers a cloud security platform focused on remediation, including features such as application security posture management and continuous threat and exposure management.

In February, Dazz hiring Jared Phipps, a longtime executive in the cybersecurity industry, most recently at SentinelOne, will serve as its CRO with the startup looking to scale up its work with its channel partners. Key partners include New York-based Presidio.

In July, Dazz announced a $50 million fundraising round, bringing the startup’s total funding to $110 million since its 2021 launch.

In a job On Thursday, Wiz co-founder and CEO Assaf Rappaport said Dazz brings a “cutting-edge remediation engine” that will enable Wiz to “enable security teams to correlate data from multiple sources and manage application risks on a unified platform”.

This is the second acquisition of 2024 for fast-growing Wiz, following its agreement for cloud detection and response provider Gem Security in April, and its third acquisition overall.

In May, Wiz announcement Raising $1 billion in new funding at a valuation of $12 billion, the four-year-old company said it continues to see rapid growth in the cloud and AI security markets. The company’s annual recurring revenue (ARR) has reportedly topped $500 million, up from $350 million earlier this year.

Rappaport told CRN in February, Wiz would make its distribution efforts a top priority after a series of executive hires aimed at enabling faster partner-focused growth.

“In cybersecurity, partners are extremely important to the success of a business. So we have always (seen that) there is enormous potential in this to be exploited. I think we can do so much more,” he said at the time.