Extracting this from my comment on a subthread to add color to the discussion here.

They announced in a blog post that they went from $1m ARR to $100m ARR in 18 months (Feb 2021 -> July 2022). [1]

Reuters in the article posted here reports they were at $500m ARR when they last raised in mid-2024, meaning they went from $100m to $500m in around 2 years.

One would thus speculate they are likely a few hundred million above the half-a-billion figure today.

The multiple still appears a little high to me (particularly given it's all-cash, which Google doesn't even have) but what do I know.

[1] https://www.wiz.io/blog/100m-arr-in-18-months-wiz-becomes-th...