By laksh5382 
LONDON — Cybersecurity firm Viz is trying to hit $1 billion in annual recurring revenue next year, the company’s billionaire co-founder Roy Reznik told CNBC, adding that the firm will go public “when the stars align.” .
Viz makes software that connects to cloud storage providers like Amazon Web Services or Microsoft Azure and scans everything stored in the cloud, helping organizations identify and remove risks in their cloud environments. It was founded by four Israeli friends while they served in Israel’s army intelligence unit in the 1980s, and most of Viz’s engineering personnel are still based in Tel Aviv, Israel.
Earlier this year, the company $23 billion acquisition bid rejected From GoogleWhich will be the biggest acquisition of the tech giant so far. At the time, Viz CEO Assaf Rappaport said the startup was “happy” with the offer, but that it would remain an independent company and would instead aim to get listed.
Speaking with CNBC at Viz’s new office space in London, Reznik said the company has received offers from “a number of people who want to get their hands on Viz stock” — but that, while “very flattering,” the firm Still thinks the only way she can do this is by going public.
“As a private company we’ve already broken some records, and we believe we can break some more records as an independent public company as well,” Reznik said.
Four-year-old Wiz has raised $1.9 billion in venture capital to date, including $1 billion Safe This year in a funding round led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital at a valuation of $12 billion.
In 2022, Viz said its annual recurring revenue (ARR) will reach $100 million, up from just $1 million in 18 months. At that time, the startup Said It was “the fastest software company to achieve this feat.”
Reznik, who is vice president of research and development at Viz, said the company now expects to double the $500 million ARR it achieved this year and reach $1 billion in ARR in 2025, which CEO Rapaport previously said Was cited as an important condition. The company went public.
expansion of britain
Wizz is expanding its presence internationally with a particular focus on Europe, from where it derives 35% of its revenues. Last month, the firm opened its first European office in London.
“I think the talent here is amazing and the ecosystem is amazing,” Reznik told CNBC. “We’ve always been very heavily involved in Europe and especially the UK – and I think it’s a natural evolution of Viz to double down even more here in London and the UK.”
The UK represents a major growth opportunity when it comes to cyber security, Reznik said, adding that recent events such as the cyber attack on National Health Service hospitals and the incident that affected Transport for London have increased the level of interest in the types of products. Has been turned “on the roof”. Offer.
“The cloud market is going to reach $1 trillion in the next few years,” Reznik, who moved to the UK from Israel just three months ago, told CNBC. “It’s going to be about $700 this year [billion]While security is only 4% of that, I would say. So that makes it a $30 billion market, which is huge.”
Speaking about the UK market, Reznik said: “We see a lot of interest here. Many of the largest banks and retailers are Viz customers. But we also see a huge potential for growth.”
Viz’s clients include online retailer ASOS and digital bank Revolut as customers in the UK