Secretive security startup Dazz reveals $60 million in funding

Dazz Inc., a cloud security remediation startup whose co-founders include two former Microsoft Corp. security executives, has raised $60 million in initial funding, including a $50 million Series A round and a $10 million seed round that was previously undisclosed, according to a published report in VentureBeat.

The one-year-old company said it’s building technology to address misconfiguration errors on cloud platforms, which are believed to be responsible for up to 70% of cloud data breaches. The company’s website provides little detail about its product or plans, but founders told VentureBeat they are building a platform that sits across a wide range of tools for discovering configuration errors and provides developer-friendly reports that pinpoint problems down to the code level, identify owners of individual code snippets and even suggest specific remediation recommendations.

The company, which has offices in Palo Alto, Calif. and Tel Aviv, Israel claims to have 12 current customers, half of whom are members of The Fortune 500, according to the report. It expects to launch its product midway through the first quarter of 2022.

CEO Merav Bahat (pictured) was previously the general manager of Microsoft’s cloud security business. Chief Technology Officer and co-founder Tomer Schwartz was a principal security research manager at Microsoft until late last year. The third co-founder, Yuval Ofir, was most recently head of R&D at industrial cybersecurity vendor Claroty Ltd.

Backers include Insight Venture Partners LP, Greylock Partners, Index Ventures SA, and CyberStarts Venture Fund Ltd. The company plans to more than double its 30-person engineering team to at least 75 people and add another 25 to 35 people in sales and marketing, according to VentureBeat.