Building Wiz: the fastest-growing startup in history | Raaz Herzberg (CMO and VP Product Strategy)

November 17, 20241hr 5min

Building Wiz: the fastest-growing startup in history | Raaz Herzberg (CMO and VP Product Strategy)

Lenny's Podcast: Product | Growth | Career

Raaz Herzberg is Chief Marketing Officer and VP of Product Strategy at Wiz, the fastest-growing software company in history, hitting $100M ARR in just 18 months. She was one of the first employees, joining as the first product manager when the founders were still figuring out their direction. Prior to Wiz, she led security products at Microsoft including Azure Sentinel. Her journey from engineering to product to marketing offers unique insights into finding product-market fit and scaling a hypergrowth startup.
Building Wiz: the fastest-growing startup in history | Raaz Herzberg (CMO and VP Product Strategy)
Building Wiz: the fastest-growing startup in history | Raaz Herzberg (CMO and VP Product Strategy)
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Key Takeaways

  • Finding Product-Market Fit: Wiz pivoted from their initial network security idea to cloud security after realizing customers weren't showing genuine enthusiasm. The key was doing 10-15 customer calls per day and learning to distinguish between polite interest versus real pull.
  • Signs of True Product-Market Fit: - Customers asking specific questions about pricing - Pushing to start POVs (proof of value) quickly - Proactively connecting you with other stakeholders - Willing to fill out detailed technical questionnaires - Showing genuine urgency and enthusiasm
  • Marketing Leadership Lessons: - Trust between marketing and founding team is critical - Deep product and market knowledge is essential - Must be able to translate complex technical concepts simply - Taking calculated risks and creating "noise" can work well - Being okay with potential failure enables innovation
  • Product to Marketing Transition: - Product requires careful consideration of every feature - Marketing allows for more experimentation with less downside - Crystal clear messaging becomes more important at scale - Need to constantly remember you're in a "bubble"

Introduction

Raaz Herzberg is Chief Marketing Officer and VP of Product Strategy at Wiz, the fastest-growing software company in history, hitting $100M ARR in just 18 months. She was one of the first employees, joining as the first product manager when the founders were still figuring out their direction. Prior to Wiz, she led security products at Microsoft including Azure Sentinel. Her journey from engineering to product to marketing offers unique insights into finding product-market fit and scaling a hypergrowth startup.

Topics Discussed

Early Days and Initial Pivot (2:54)

When Raaz joined Wiz (then called Beyond Networks) as employee #7 and first product manager, the founders were focused on network security despite their cloud security backgrounds. The team was doing 10-15 customer calls daily during early COVID lockdowns.

  • Initial challenge: Customers were politely interested but not showing real enthusiasm
  • Key realization: As product manager, Raaz couldn't clearly understand what they were building
  • Pivot catalyst: Admitting confusion led to deeper discussions about customer reactions
  • Outcome: Team pivoted to cloud security, their area of expertise

Finding True Product-Market Fit (6:41)

After pivoting to cloud security, the team noticed a dramatic shift in customer conversations and engagement levels.

  • Clear signals of PMF: - Customers asking about pricing immediately - Pushing to start POVs quickly - Proactively connecting team with stakeholders - Showing genuine urgency
  • Early sales approach: Founders and early team closed first several million in sales before hiring salespeople
  • "When it works, it works. And you do know when it works." - Raaz Herzberg

Learning to Listen to Customers (11:31)

The team learned to distinguish between polite interest and genuine enthusiasm from potential customers.

  • Key insight: People aren't incentivized to tell you they don't understand your pitch
  • Testing commitment: Sending detailed technical questionnaires before POVs
  • Important lesson: Don't push customers who aren't showing real pull
  • "I want to make sure they're committed...I'm not trying to push something on someone." - Raaz Herzberg

The Power of Speaking Up (14:54)

Raaz shares how admitting her confusion about the product led to important realizations for the whole team.

  • Cultural importance: Creating environment where it's safe to admit confusion
  • Leadership lesson: Being vulnerable can lead to breakthrough insights
  • Company value: Flat organization where all voices are heard
  • "I say 'I don't understand' a lot of times a day. And I think if you build a company with the right type of culture, it's not a shame to say that." - Raaz Herzberg

Transition to Marketing Leadership (23:52)

Two and a half years into Wiz's journey, Raaz was asked to take over marketing despite no prior experience in the field.

  • Initial reaction: Complete surprise given technical background
  • Preparation: Spent weekend learning about B2B marketing fundamentals
  • Key advantage: Deep understanding of product and customer base
  • Approach: Willingness to take chances and focus on making noise

Marketing Leadership Challenges (34:12)

Raaz discusses why CMO roles are particularly challenging and often don't work out.

  • Critical factors: - Need deep trust with founding team - Everything in marketing is highly visible - Must deeply understand product and market - Managing diverse functions (performance, brand, events)
  • Trust importance: One bad campaign can break trust quickly
  • "It's very hard to do without a lot of trust and without a deep connection to the founding team." - Raaz Herzberg

Creating Noise and Standing Out (36:23)

Raaz shares how she approached making Wiz stand out in the crowded security space.

  • Marketing vs Product: Marketing allows for more experimentation with less downside
  • RSA Conference example: Created Wizard of Oz themed booth instead of typical security aesthetic
  • Brand approach: Chose optimistic, bright colors instead of typical dark security branding
  • Results: 5x more booth visitors than previous year

Embracing Failure (40:28)

Raaz discusses her mindset about being comfortable with potential failure.

  • Key mindset: Okay with likely failing but still attempting
  • Career approach: Never fully confident in new roles but tries anyway
  • Personal background: Mother encouraged pursuing areas of discomfort
  • "I'm kind of okay with being pretty sure I'm going to fail at something and still attempting it." - Raaz Herzberg

Clear Communication (44:53)

The importance of crystal clear messaging when scaling marketing efforts.

  • Key challenge: Product teams can work with ambiguity but marketing needs clarity
  • Common mistake: Assuming market understands technical terminology
  • Solution: "Dummy explanation" approach - making everything understandable to anyone
  • Reminder: Most people don't live in your company's bubble

Building Trust and Company Culture (51:00)

Discussion of Wiz's founding team dynamics and company culture.

  • Founding team: Working together for 20+ years across multiple companies
  • Cultural elements: - Complete trust between team members - Clear domains of ownership - Fast decision making - Open to impact regardless of title
  • Scale: Now ~1,500 employees

Contrarian Corner (53:45)

Raaz shares her contrarian take on imposter syndrome.

  • Perspective: Instead of trying to overcome imposter syndrome, embrace it
  • Approach: Don't let feeling like an impostor stop you from taking opportunities
  • Reality: In new roles, you actually are an "impostor" initially - that's normal
  • "Maybe they will find out you're an impostor. Maybe let them find out. It's fine." - Raaz Herzberg

Conclusion

Raaz Herzberg's journey from first product manager to CMO at Wiz offers valuable insights into finding product-market fit, scaling a hypergrowth startup, and successfully transitioning between different leadership roles. Her emphasis on embracing discomfort, speaking up when things aren't clear, and taking calculated risks while being okay with potential failure provides an inspiring framework for other leaders. The success of Wiz demonstrates the power of having deep market knowledge, being willing to pivot when needed, and building a culture of trust and openness to impact regardless of title or experience.

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