- Upwind Security closed a $400 million Series C at a $3.8 billion valuation, led by Bessemer Venture Partners with Canapi Ventures joining as a new investor.
- The round comes nine months after Upwind’s $250 million raise at a $1.5 billion valuation, and brings its total funding past $800 million.
- Upwind says its revenue quadrupled during 2026, driving the roughly 2.5x valuation jump since January.
- Founder Amiram Shachar previously built and sold Spot.io to NetApp for $450 million before starting Upwind in 2022.
What Happened
Upwind Security, a San Francisco-based startup offering cybersecurity for AI and cloud applications, raised a $400 million Series C at a $3.8 billion valuation, Bloomberg reported (Oct 28, 2026). Bessemer Venture Partners led the round, joined by new investor Canapi Ventures.
Why It Matters
The raise lands amid a broader wave of AI-security funding this year, as cloud and AI workloads create new attack surfaces that legacy security tools weren’t built to cover. Upwind’s valuation has more than doubled in nine months, reflecting how fast investors are pricing in AI-security demand.
Technical Details
The round values Upwind at $3.8 billion, up from $1.5 billion in January 2026, after the company said revenue quadrupled during the year. Existing backers TCV, Greylock Partners and Salesforce Ventures participated alongside Cyberstarts, Craft Ventures and several other funds. Upwind has now raised more than $800 million in total.
Who’s Affected
The funding affects enterprise security teams adopting Upwind’s cloud and AI-workload protection tools, as well as rival cloud-security vendors facing a better-capitalized competitor. Datadog had reportedly offered close to $4 billion to acquire Upwind, though a report of that offer was later disputed.
What’s Next
Upwind has not disclosed specific plans for the new capital beyond continuing to scale its cloud and AI-security product line. The company has not addressed the disputed acquisition interest from Datadog.
