Founded by Assaf Rappaport in 2020, Wiz burst onto the cybersecurity scene, hitting $100 million in annual recurring revenue (ARR) within 18 months. Its ARR has continued soaring, reaching $500 million by the end of 2024. The company has a grand ambition to grow its ARR to more than $1 billion in the future.
The company's revenue growth (and focus on cloud security) caught the attention of tech titan Alphabet (GOOG -0.89%)(GOOGL -0.78%). Its Google subsidiary offered to buy Wiz for $23 billion in 2024. Wiz turned down the offer, opting instead to continue building the company independently. While Wiz wanted to eventually pursue an initial public offering (IPO), Google came back with a $32 billion offer to buy the company in early 2025, which it accepted.
Here's a look at everything you need to know about investing in the company and some cybersecurity stock alternatives to consider now that it's highly unlikely that Wiz will go public.
Is it publicly traded?
Is Wiz publicly traded?
As of early 2025, Wiz wasn't a publicly traded company. It was a private venture capital-backed startup. Several notable firms have invested in Wiz, including Andreessen Horowitz, Lightspeed Venture Partners, Thrive Capital, Greylock Partners, Salesforce (CRM -0.07%) Ventures, Sequoia Capital, and Blackstone (BX -0.48%).
IPO
Will it IPO?
When will Wiz IPO?
Wiz likely won't be putting its name on the IPO calendar anytime soon. While the company walked away from a $23 billion acquisition offer by Google in July 2024, the tech titan came back with a higher offer a few months later. Wiz accepted a $32 billion deal from Google to become part of Google Cloud. The company plans to close the acquisition as soon as it receives the necessary regulatory approvals.
How to invest
How to buy Wiz stock
Since Wiz is still a private company, you can't buy its stock with a brokerage account. Given its pending acquisition by Google, it won't go public anytime soon. Because of that, you can't invest directly in Wiz.
However, you can invest in Google. Buying shares of the technology giant would eventually give you exposure to Wiz. You'd also benefit from Alphabet's other businesses, including Google's namesake search engine, its cloud business, YouTube, its investment in Waymo, and its Gemini AI platform.
Meanwhile, you can consider investing in a competing cybersecurity company. Here are three top cloud security companies to consider now that Wiz is about to become part of Google:
CrowdStrike Holdings
CrowdStrike Holdings (CRWD -1.18%) is a leading cloud security platform. The company's Falcon platform uses artificial intelligence (AI) to detect threats and stop breaches. It has 28 cloud modules that enable customers to consolidate their security with one vendor. The cybersecurity provider ended its 2025 fiscal year with over $4.2 billion of ARR (up 23% from the prior year). It's scaling its business to $10 billion in ARR and beyond.
Palo Alto Networks
Palo Alto Networks (PANW -0.31%) is the world leader in cybersecurity. The company's best-in-class cybersecurity platforms and services use industry-leading threat intelligence and boast state-of-the-art automation. The company's innovative approach enables it to provide next-generation cybersecurity services to customers worldwide. The Palo Alto Networks next-gen security platform had $4.8 billion of ARR in early 2025 (up 37% year over year). It aimed to grow its platform towards $15 billion in ARR by its 2030 fiscal year.
Zscaler
Zscaler (ZS -0.18%) is a cybersecurity pioneer. It built the Zscaler Zero Trust Exchange from the ground up to securely connect individual users, devices, and applications. The leader in cloud security had more than $2.7 billion in ARR as of early 2025 (a 23% year-over-year increase). It was targeting to grow its ARR to more than $5 billion in the future.
Anyone can buy shares of one of these Wiz alternatives through a brokerage account. Here's a step-by-step guide on how to invest in stocks.
- Open your brokerage app: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Profitability
Is Wiz profitable?
The privately held Wiz doesn't need to publicly disclose its financial results, so there isn't much publicly available information on its profitability.
The company is reportedly growing its revenue briskly. It was the fastest-growing company in history in 2022, achieving $100 million in ARR less than 18 months after its founding. It more than tripled that number in 2023 to $350 million and topped $500 million in 2024. Wiz was working towards reaching $1 billion in ARR, which it aims to hit by the end of 2025.
It's unclear whether Wiz has turned the corner and reached profitability. However, that's not as important to Google just yet. It's buying Wiz to bolster its cloud business. The company said that buying Wiz "will help make their solutions even better and more scalable, benefiting customers and partners across all major clouds.” The deal should enhance the growth and profitability of Google Cloud over the long term.
Should I invest?
Should I invest in Wiz?
Since Google is buying Wiz, you likely won't ever get the chance to invest directly in the company. However, if the deal falls through, here are some reasons why you might want to invest in the cybersecurity company if it goes public:
- You think Wiz will grow its revenue and profits briskly in the future.
- You think the company will grow into a leader in the cybersecurity industry.
- You want to invest in a founder-led company.
- You think Wiz has better products and services than its cybersecurity sector rivals.
- Investing in Wiz would help diversify your portfolio.
On the other hand, here are some reasons why you might opt against buying Wiz at its IPO:
- You're not sure what Wiz does.
- You're concerned about growing competition in the cybersecurity sector.
- You're at or nearing retirement and would prefer to invest in more mature companies.
- You already own other cybersecurity stocks.
ETFs
ETFs with exposure to Wiz
Since Wiz isn't a publicly traded company yet, you can't use exchange-traded funds (ETFs) to gain passive exposure to the cybersecurity company. However, you can use ETFs to invest in the cloud security trend. Here are three top cybersecurity ETFs to consider investing in while you wait for Wiz to go public:
- First Trust NASDAQ Cybersecurity ETF (CIBR 0.04%): This ETF tracks the Nasdaq CTA Cybersecurity Index. The fund had 32 holdings in early 2025, including Crowdstrike Holdings (second-largest at 7.5%), Palo Alto Networks (fourth-largest at 7.4% of its net assets), and Zscaler (10th-largest at 4.1%). The fund had a 0.59% ETF expense ratio.
- Amplify Cybersecurity ETF (HACK -0.11%): The fund was the first cybersecurity ETF when it launched in 2014. It had 23 holdings in early 2025, including Palo Alto Networks (fifth-largest at 5.7%), Crowdstrike Holdings (sixth-largest at 5.6%), and Zscaler (10th-largest at 4.5%). The ETF had a 0.6% expense ratio.
- iShares Cybersecurity and Tech ETF (IHAK -0.31%): The BlackRock (BLK 0.23%)-managed ETF focuses on cybersecurity and technology companies. The fund had 36 holdings in early 2025, including Crowdstrike (seventh-largest at 4.1% of its holdings) and Zscaler (10th-largest at 3.8%). It had a 0.47% expense ratio.
Related investing topics
The bottom line on Wiz
Wiz is one of the hottest companies in the startup world. It's one of the fastest-growing companies because its cybersecurity solutions are in high demand. That caught the attention of Google, which tried to buy the company. However, Wiz plans to stay the course and go public in the future. Given its growth, it could be one of the hotter IPOs when it launches, which makes it an exciting company to watch.
FAQ
Investing in Wiz FAQ
Can I invest in Wiz?
Most people can't invest in Wiz because it's a private company backed by venture capital funds. However, you can invest in Google (through its parent Alphabet), which will give you exposure to Wiz when the company closes that deal.
Is Wiz a publicly traded company?
As of early 2025, Wiz wasn't a publicly traded company. It was a private company backed by venture capital funds and other investors. However, it agreed to an acquisition by Google, a subsidiary of the publicly traded Alphabet.
What is the ticker symbol for Wiz?
Wiz wasn't a publicly traded company as of early 2025, so it didn't have a stock ticker symbol. However, Alphabet, which agreed to buy Wiz in early 2025, is a publicly traded company. Its stock tickers are GOOG and GOOGL.
Is Wiz profitable?
There wasn't much publicly available financial information on Wiz in early 2025. It's unclear if the company was profitable yet. However, it is growing its revenue rapidly, which should put it on the path towards profitability.
