· Investment Strategies · 3 sources
Upwind’s $300M at $3.8B: Cloud Security After the Wiz Vacuum
Bessemer and TCV reportedly led Upwind’s ~$300M Series C at ~$3.8B — more than doubling January’s ~$1.5B mark — as buyers seek non-Wiz/Google cloud security alternatives.
Editorial team
Bessemer Venture Partners and TCV reportedly led Upwind’s roughly $300 million Series C in early September 2026, valuing the Israeli cloud-security company at about $3.8 billion (CTech, SiliconANGLE, Globes). That more than doubles the ~$1.5–1.6 billion mark from January’s $250 million Series B. Salesforce Ventures, Greylock Partners, Craft Ventures, Cyberstarts, Leaders Fund, and Alta Park Capital participated.
Spine: Google’s Wiz acquisition created a multi-cloud buyer problem — and investors are capitalizing the clearest independent alternatives at unicorn-plus speed.
For a broader comparison of investment in cloud runtime security and adjacent security categories, see the 2026 cybersecurity funding overview.
Key facts
- Company
- Upwind (Israel)
- Round
- ~$300M Series C
- Valuation
- ~$3.8B
- Co-leads
- Bessemer, TCV
- Prior
- $250M Series B at ~$1.5B (Jan 2026)
- Founder
- Amiram Shachar (serial)
- ARR path
- Globes sources: mid-year ~$50–60M run, toward ~$100M ARR YE (estimates)
- Confidence
- Reported (Globes “set to raise”; CTech/SiliconANGLE sizing)
Who uses the product — and for what job
Users: security and platform teams at cloud-native enterprises that need runtime/cloud risk prioritization without depending on a vendor now owned by Google.
Job: automate detection and triage of real cloud risks (noise down, actionable alerts up) across AWS/Azure/GCP-style estates — Globes noted enhanced distribution agreements with Amazon and Microsoft after the Wiz–Google deal.
Why now
- Wiz → Google reframed competitive dynamics: some buyers want a non-Google CNAPP path even if Wiz remains multi-cloud.
- Valuation climb from ~$1.5B (Jan 2026) to ~$3.8B in under a year is the anomaly — pricing scarcity of scaled independents.
- AI workloads expand cloud attack surface; automated prioritization is the purchasing language of 2026 security budgets.
Why Bessemer / TCV — portfolio fit
Bessemer is a returning lead — continuity on a cyber franchise it already marked up. TCV adds later-stage growth capital for a company crossing toward nine-figure ARR ambition. Salesforce Ventures’ presence (after a smaller intervening investment at ~$1.6B per CTech) signals platform adjacency.
Likely founder rationale: raise into the post-Wiz demand surge with existing leads who already diligenced product and GTM, rather than reset the board for a new brand-name fund.
| Dimension | Fit |
|---|---|
| Stage | Series C growth |
| Thesis | Independent CNAPP after category consolidation |
| Risk | Hyperscaler-native security suites; other Israel cyber peers (Sweet, Echo, etc.) |
Competitive map
| Player | Lane |
|---|---|
| Wiz (Google) | Category leader, now strategic |
| Palo Alto / CrowdStrike cloud modules | Suite incumbents |
| Other CNAPP specialists | Share-of-wallet fight |
What remains undisclosed
Exact close date wording varies (“set to” vs. closed); treat sizing/valuation as well-sourced reported until a full company release. ARR figures are Globes source estimates.
Takeaway
Upwind’s $3.8B mark is a post-consolidation trade: independence + distribution matter as much as feature parity. The number investors still need is audited ARR vs. the ~$100M year-end whisper.
Sources
- SiliconANGLE: https://siliconangle.com/2026/09/03/upwind-reels-in-300m-for-its-automated-cloud-security-platform/
- CTech: https://www.calcalistech.com/ctechnews/article/0kbwgdw01
- Globes: https://en.globes.co.il/en/article-upwind-set-to-raise-300m-at-38b-valuation-1001554301
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
