Upwind closed a $400 million Series C round that values the company at $3.8 billion. Bessemer Venture Partners led the round, joined by Canapi Ventures and previous backers Greylock Partners, Cyberstarts, Craft Ventures, Salesforce Ventures, Alta Park Capital, TCV, Penny Jar Capital, Cerca Partners, Swish Ventures, Picture Capital and Leaders Fund.
The round follows what the company said was a quadrupling of revenue in 2026. Upwind's valuation increased from $1.5 billion in its Series B in January 2026. Upwind said the funding will go toward faster product development and a larger go-to-market organization.
Globes reported on October 28 that Upwind turned down a $4 billion acquisition offer from DataDog. DataDog had been courting Upwind for several months, and its offer was close to the $3.8 billion valuation of the new round, according to Globes. Upwind's investors and founders chose to proceed with the financing instead.
Founded in 2022, Upwind sells a cloud and AI security platform that pulls runtime intelligence from APIs, cloud workloads and AI agents. Upwind says the platform lets security, development and DevOps teams spot critical risks, see which exposures are reachable, fix vulnerabilities and detect attacks in real time. The platform is compatible with AWS, Azure, Google Cloud and Oracle Cloud Infrastructure, and offers an AWS Security Hub integration.
Its customers include Roku, Siemens, Carvana, Nubank, Supabase and ClickUp. CEO Amiram Shachar said: "Security needs to keep pace with environments that AI agents can change at a speed and scale that human teams alone cannot match." Tushar Dalvi, deputy CISO at Confluent, said Upwind gave his team "the exact visibility and context we need to stay ahead of cloud threats with complete confidence."
Globes estimated Upwind's 2026 annual recurring revenue at $80 million or more and noted that the company has quadrupled ARR since the beginning of the year. Globes also said Upwind has formed partnerships with Amazon's and Microsoft's cloud divisions after Google bought Wiz. DataDog, a Nasdaq-listed observability company with a market cap of $100 billion, maintains a development center in Israel and may hire more talent there after the rejection, Globes reported.
Upwind is also building specialized AI agents that can autonomously investigate threats, run red-team-style tests to validate attack-surface findings, and fix infrastructure risks, the company said. Shachar added: "This round gives us the opportunity to accelerate our momentum, expand our capabilities, and continue delivering the innovation customers need to secure cloud and AI infrastructure in the agentic era."
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Elliot Marsh covers startups, IPO filings and the money behind them for Venturist. Elliot writes from SEC filings, company announcements and published reporting.