Cyber Firm Upwind Raises $300 Million at $3.8 Billion Valuation
Translated & summarized from Globes by baba
Cybersecurity startup Upwind is raising $300 million at a $3.8 billion valuation, a significant increase from its previous funding round. The company has benefited from market demand in cloud security following competitor Wiz's acquisition.
The story in 5 lines · by baba
- Upwind raises $300 million at $3.8 billion valuation.
- Valuation more than doubled since early 2024 funding.
- Startup operates in the high-demand cloud security market.
- Revenue projected to reach $100 million run rate this year.
- Company benefits from competitor Wiz's acquisition by Google.
Israeli cybersecurity startup Upwind is nearing the completion of a $300 million funding round that values the company at $3.8 billion. This significant increase in valuation comes just months after the company raised $250 million at a $1.6 billion valuation in early 2024. The rapid fundraising reflects strong investor demand for growing cybersecurity firms, particularly those operating in the cloud security market.
Upwind, founded by serial entrepreneur Amiram Shahar, reportedly generated less than $20 million in revenue last year but is estimated to have achieved $50-60 million in revenue this year. Projections suggest the company could reach an annual revenue run rate of $100 million by the end of the year. The company has benefited from a market vacuum in cloud security following the acquisition of competitor Wiz by Google for $32 billion six months ago.
Upwind has secured enhanced agreements with Amazon and Microsoft, which have aided in distributing its product to customers seeking alternatives. This comes despite Wiz's announcement that it remains compatible with all cloud platforms. Upwind has not yet commented on the funding round.
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