Wiz paid a reported $350M for Gem Security, its second deal in four months

Wiz is a fast-growing cloud security platform (reportedly valued at $10B with $900M raised); Gem Security, founded 2022, specializes in cloud detection and response (CDR).

$350M reported transaction value (terms undisclosed); Wiz's second acquisition, after buying Rafft for a reported $50M in December 2023

Rappaport founded Wiz in 2020 with his Adallom cofounders Ami Luttwak, Yinon Costica and Roy Reznik; his first check from Gili Raanan in 2012 had been negotiated at a gas-station convenience store halfway between Tel Aviv and Mikhmoret.

Gem's Arie Zilberstein wasn't considering a sale a month before the deal; once talks started it moved 'shockingly fast', with Bloomberg reporting the deal in the works in March. Rappaport framed 2024 as 'the year of acquisitions' and wanted to 'copy and paste' the Gem playbook.

The acquisition logic is platform completion: CDR closes Wiz's detection gap alongside its prevention root, before a rival fills it.

Investor inbound interest in Gem served as a free, market-validated target screen — the rare M&A trigger that requires no banker.

Speed was a designed feature: shared 8200 background plus an acquired-founder CEO cut the trust-building phase to weeks.

Declared publicly as a repeatable playbook, the deal signals Wiz maturing from builder to consolidator well before its IPO arc.

The cheapest acquisition-scouting signal is your own investors' inbound interest in the same startup — the market has already done the diligence.

As of the April 2024 announcement, Gem was joining Wiz with Rappaport promising more acquisitions; five months later Wiz turned down Google's $23B offer to pursue independence — a decision covered in its own entry.