Upwind raises $400 million at a $3.8 billion valuation

Cloud-security startup Upwind said on October 28 that it had raised $400 million in a funding round led by Bessemer Venture Partners, valuing the company at $3.8 billion.

The new capital will support product expansion. Upwind said the round takes its total funding to more than $800 million since its founding in 2022.

Earlier rounds set the funding backdrop

Upwind was valued at about $900 million when it raised $100 million in December 2024. It also raised $250 million in a Series B round nine months before the latest announcement, but did not disclose a valuation for that financing.

The newly announced $3.8 billion valuation is therefore separate from the undisclosed valuation attached to the Series B round.

Returning investors and a new backer

Existing investors Greylock Partners, Cyberstarts, Craft Ventures, Salesforce Ventures, Alta Park and TCV also participated in the latest round. Canapi Ventures joined as a new backer.

Source

Reuters: Cloud security startup Upwind raises $400 million, valued at $3.8 billion.