Upwind Security has increased its latest funding round to $400 million while keeping a $3.8 billion valuation. The Israeli cloud security company had previously announced a $300 million round in September. Bessemer Venture Partners and TCV led the financing, with Canapi Ventures and existing investors also participating.
Round expansion
The company's valuation rose from $1.5 billion in January and from roughly $800 million to $900 million in late 2024. Other investors include Cyberstarts, Greylock Partners, Craft Ventures, Leaders Fund, Salesforce Ventures, and Picture Capital. The larger round follows reports that Datadog had considered acquiring Upwind.
Company context
Upwind was founded in 2022 by Amiram Shachar and his former partners at Spot.io. Spot.io was acquired by NetApp for $450 million in 2020. CTech reported that annual recurring revenue has surpassed $50 million, up from approximately $20 million.
Runtime security
Upwind develops software that monitors cloud environments in real time. Its runtime-first approach focuses on live systems rather than relying mainly on static scans. The platform combines data from cloud workloads, APIs, and client-side agents to help security and DevOps teams prioritize risks.
Upwind has also expanded into AI security. It acquired Israeli startup Aegis in a stock-based transaction reportedly worth tens of millions of dollars. The company also established Upwind AI Labs to focus on threats to AI systems and AI-driven workflows.