Wiz, an Israeli-founded cloud security startup, has appointed Fazal Merchant as its new president and chief financial officer.

Merchant’s focus will be on readying the company for a potential United States initial public offering (IPO) within the next year.

Wiz has secured US$1.9 billion in private financing to date, highlighted by a US$12 billion valuation round in May 2023.

Bringing experience from DreamWorks Animation, DirecTV, and the cybersecurity startup Tanium, Merchant emphasized that preparing for the IPO is a key priority.