Lacework’s Fire Sale Tarnishes Sutter Hill’s Incubation Strategy

Cybersecurity company Lacework is in talks to sell to its competitor, Wiz, for between $150 million and $200 million, a fragment of its 2021 valuation of $8.3 billion, Cory and Aaron report. It’s a painful ending for the investors that poured nearly $2 billion into the 9-year-old startup, as well as the employees, who were hoping for a much better outcome.

Lacework was incubated by Sutter Hill Ventures, meaning the venture capital firm invested and supported the company from …

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