en.wikipedia.org/wiki/Wiz,_Inc.
2 corrections found
In April and May 2021, Wiz raised $130 million and $120 million (respectively) on a $1.7 billion valuation from Greenoaks, Index Ventures, Sequoia Capital, Insight Partners, and Cyberstarts.
The dates and investor details are wrong. Wiz announced the $130 million round on March 22, 2021, not April, and said it was led by Advent International with Greenoaks; the extra $120 million closed in June 2021, not May, from Salesforce Ventures and Blackstone with Aglaé Ventures.
Full reasoning
Wiz's own funding posts contradict both the timing and the investor list in this sentence.
For the first part of the round, Wiz published its announcement on March 22, 2021—not April. In an update dated April 7, 2021, the company said Advent International through Advent Tech led the round, with Greenoaks joining alongside existing investors Index Ventures, Sequoia Capital, Insight, and Cyberstarts.
For the second part, Wiz wrote on June 10, 2021 that it had closed its Series B “which we had previously announced in March” with an additional $120 million investment from Salesforce Ventures and Blackstone, with participation from Aglaé Ventures. That contradicts the article's claim that the $120 million was in May and from the same investor group listed for the earlier tranche.
So this sentence is not just incomplete; it misstates when the two financings happened and who participated in them.
2 sources
- Wiz becomes fastest growing security startup ever with new $1.7B valuation
Assaf Rappaport March 22, 2021 ... UPDATE: 4-7-21 ... Advent International through Advent Tech led the round. Joining Advent International ... is Greenoaks ... along with our existing investors from Index Ventures, Sequoia Capital, Insight ... and Cyberstarts.
- Salesforce Ventures, Blackstone, and Aglaé Join Team Wiz!
Last week Wiz closed its Series B, which we had previously announced in March, with an additional $120 million investment from Salesforce Ventures and Blackstone with participation from Aglaé Ventures. ... June 10, 2021
led by Greenoaks
Wiz's own Series C announcement says the round was co-led by Insight Partners and Greenoaks Capital, not led by Greenoaks alone.
Full reasoning
The article says Wiz's October 2021 Series C was “led by Greenoaks.” Wiz's official Series C announcement says something different: “Insight Partners and Greenoaks Capital co-led” the round.
That makes the wording here materially inaccurate. Greenoaks participated, but it was not the sole lead investor according to the company announcement.
1 source
- Celebrating Our Series C: Zero to $6 Billion in 18 Months
Today we are celebrating another milestone: $250 million in Series C funding at a $6 billion valuation. ... Insight Partners and Greenoaks Capital co-led with participation from Sequoia, Index, Salesforce, and others.