· Venture Capital Tracker · investment-strategies · 2 min read
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.
VCT data record
Funding event facts
Source-backed financing and transaction details. Unknown terms remain undisclosed rather than estimated.
Upwind raises ~$300M Series C at ~$3.8B valuation
Bessemer and TCV led Upwind’s ~$300M Series C at ~$3.8B, with Salesforce Ventures, Greylock, Craft, and Cyberstarts among participants, eight months after a $250M Series B.
- Event type
- Funding Round
- Event date
- Sep 3, 2026
- Stage / label
- Series C
- Amount
- ~$300M
- Valuation
- ~$3.8B
- Confidence
- Reported
Company / target: Upwind
Lead: Bessemer Venture Partners , TCV
Participants: Salesforce Ventures , Greylock Partners , Craft Ventures , Cyberstarts
Sources: siliconangle.com calcalistech.com
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.
Key facts
| Field | Detail |
|---|---|
| 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
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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.
