Bernard Arnault an investor in Israeli cloud safety co Wiz

Bernard Arnault, lately named the richest particular person on the earth by Forbes journal, is invested in Israeli cloud safety firm Wiz, headed by Assaf Rappaport. Arnault invested in Wiz via his Aglaé Ventures funding fund. The wealth of luxurious merchandise company LVMH founder Arnaud is estimated at $198 billion.

Arnault’s funding fund joined a $120 million transaction first reported in late Could. The traders within the spherical reported till now have been software program large Salesforce and US funding firm Blackstone. It has now been revealed that Arnault’s fund additionally participated. A part of the cash went to Wiz, whereas half was paid to Gili Raanan’s Cyberstarts fund, which offered half its holding in Wiz.

Wiz was based in January 2020 by Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik – the identical crew that based Adallom, which was offered to Microsoft for $320 million in 2015. Rappaport was subsequently appointed Cloud Safety Group.

Because it was based, Wiz has acquired substantial funding from outstanding traders. Final December it raised $100 million from main funds Sequoia, Index, and Perception Companions. Just a few months later, in March this 12 months, it introduced that it had raised an extra $130 million at a valuation of $1.7 billion, making it a unicorn in file time. Former Starbucks CEO Howard Schultz was an investor in that spherical.

Aglaé Ventures focuses on know-how funding and is supported by Agache, the funding entity via which Arnault controls LVMH.

Printed by Globes, Israel enterprise information – – on June 10, 2021

© Copyright of Globes Writer Itonut (1983) Ltd. 2021

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