After a week of conflicting reports, Upwind has put its numbers on the table. The cloud security company founded by Israeli entrepreneur Amiram Shachar announced on Wednesday that it has closed a $400 million Series C at a $3.8 billion valuation. The round was led by Bessemer Venture Partners, which also led the previous round.
The valuation more than doubled
Last January Upwind raised $250 million at a $1.5 billion valuation, becoming a unicorn. In just nine months its valuation has more than doubled. In early September a $300 million raise was reported, and another $100 million was added by the close. All existing investors, including Greylock, Cyberstarts, Craft and Salesforce Ventures, took part, and Canapi Ventures joined as a new investor.
According to the company, its revenue has quadrupled since the start of 2026. The money will go to product development and expanding sales and marketing. Shachar, CEO and co-founder, said the capital will let the company keep building a platform to secure cloud and AI infrastructure.
And what about Datadog?
The round comes days after The Information reported that monitoring company Datadog offered nearly $4 billion for Upwind, and CTech reported that no such offer was made. The official announcement does not address it. According to the headline of Shachar's interview in TheMarker today, he has "never ruled out a sale". Either way, Upwind has chosen to stay independent for now.
What it means for Israeli cyber
Upwind joins a series of cybersecurity companies founded by Israeli entrepreneurs that are raising huge sums in cloud security and AI, the field where Wiz, acquired by Google, also operates. For Shachar, who previously sold his earlier company Spot.io to NetApp, it is the second time he has built a company that draws interest from the giants. The question now is whether Upwind will continue toward going public, or whether a high enough offer will change its plans.
