Dazz

Overview

Dazz is an innovative cybersecurity company specializing in unified security remediation. Founded in 2021, it is headquartered in Palo Alto, California. The company was established by Merav Bahat, Tomer Schwartz, and Yuval Ofir. Over its short existence, Dazz has successfully raised a total of $110 million through multiple funding rounds from esteemed investors such as Greylock, Cyberstarts, Insight Partners, and Index Ventures. Dazz focuses on developing AI-powered solutions to facilitate efficient risk prioritization and remediation across complex digital environments.

Recent Developments

October 2024: Dazz achieved AWS Financial Services and Security Competency Status, marking a significant milestone in enhancing its credibility as a secure and efficient cloud security provider, particularly for financial institutions, banks, and other significant economic entities.
September 2024: Dazz partnered with CrowdStrike to integrate security remediation insights into CrowdStrike's Falcon Cloud Security, boosting its offerings and synergies in the cybersecurity space, emphasizing automated cloud-based code fixes.
July 2024: The company announced a $50 million funding round led by Greylock, with participation from Cyberstarts, Insight Partners, and Index Ventures. This new investment aims to accelerate Dazz’s momentum in redefining risk prioritization and remediation using AI technologies.
June 2024: Dazz was named a Technology Pioneer by the World Economic Forum for its contribution to cybersecurity through its innovative Unified Remediation Platform.
January 2024: Dazz was recognized as one of the top 100 cloud companies by CRN, highlighting its significant role in automated root cause analysis and security remediation.

Attribute	Information
Founding Date	2021
Headquarters	Palo Alto, United States
Founders	Merav Bahat, Tomer Schwartz, Yuval Ofir
Total Funding	$110 million
Key Investors	Greylock, Insight Partners, Index Ventures
Industry	Cybersecurity
Number of Employees	277 (as of 2024)

Early History

Dazz was founded in late 2021, fueled by the founders' backgrounds at technology giants such as Microsoft and Claroty. Merav Bahat, previously involved in Microsoft’s cloud security operations, together with Tomer Schwartz and Yuval Ofir, who held pivotal roles in renowned cybersecurity entities, identified critical gaps in vulnerability management. Their combined expertise led to the establishment of Dazz, focusing on legacy vulnerability management transformation and the implementation of innovative AI solutions. By early 2022, Dazz had already started making significant inroads into the cybersecurity market, securing its first series of funding.

Company Profile and Achievements

Dazz is pioneering the cybersecurity landscape with its Unified Remediation Platform, which provides comprehensive visibility and prioritization of vulnerabilities across code, cloud, applications, and infrastructure environments.

From 2022 to early 2023, Dazz expanded its client base, reaching major Fortune 500 companies and hyper-growth firms in sectors including finance, healthcare, and technology.
The company’s platform has managed over 1.2 billion vulnerabilities, resolving approximately 500 million issues at their root cause, significantly reducing time and resource allocation.
In FY2023, Dazz reported a 400% increase in annual recurring revenue (ARR) and broadened its operational footprint across the U.S., Europe, and Israel.
Dazz has been instrumental in aiding organizations to navigate the complex landscape of cybersecurity threats by significantly reducing the Mean Time to Remediate (MTTR), ensuring threats are addressed in hours rather than weeks.

Current Operations and Market Position

Currently, Dazz continues to focus on expanding its presence in the cybersecurity ecosystem, leveraging AI technologies to refine and optimize risk remediation processes. It uniquely addresses the need for automated, efficient security remediation across complex cloud and application environments. In a market increasingly dominated by AI-driven solutions, Dazz holds a competitive advantage with its proprietary AI algorithms and a deep commitment to innovation and rapid growth.

Conclusion

Dazz stands out as a significant player in the cybersecurity industry, not only for its cutting-edge technology but also for its strategic partnerships and rapid growth trajectory. With its substantial funding and strong leadership, Dazz is poised to further redefine cloud security remediation and risk management. Its future appears promising, as it continues to enhance its platform capabilities and foster collaborations with leading cybersecurity and cloud service providers.