Upwind Security has raised $400 million in a Series C financing that values the cloud and AI security company at $3.8 billion, marking one of the largest recent private funding rounds in the cybersecurity market.
Bessemer Venture Partners led the round after also leading Upwind’s $250 million Series B less than nine months earlier. Canapi Ventures joined as a new investor, while all of Upwind’s existing backers participated again. The company said the capital will support expansion of its product and engineering organizations.
“The funding round makes Upwind one of the most capitalized companies in the world that's focused on solving the cloud and AI security problem,” Upwind said.
Security for live cloud and AI systems
Upwind’s platform is designed to monitor cloud workloads, application programming interfaces and AI agents while they are operating. The company describes this approach as runtime intelligence, contrasting it with security tools that periodically scan an environment and produce a snapshot of potential risks.
The platform supports Amazon Web Services, Microsoft Azure, Google Cloud and Oracle Cloud. For AWS customers, Upwind can be accessed through the AWS console using Security Hub, with billing handled through AWS. The company said its customer base includes hundreds of organizations, including Siemens, Roku, Carvana, Nubank, Supabase and ClickUp.
| Financing detail | Reported information |
|---|---|
| Round | Series C |
| Amount raised | $400 million |
| Valuation | $3.8 billion |
| Lead investor | Bessemer Venture Partners |
| New investor | Canapi Ventures |
AI agents add to the security challenge
Upwind said the need for its technology is growing as attackers use AI to expand their operations and businesses deploy large language models and autonomous agents. In the company’s view, conventional alert-driven products can leave security teams without enough context to determine what an agent is trying to do or whether a vulnerability is actually reachable by an attacker.
The company said its revenue quadrupled in 2026, although it did not disclose a dollar figure. Its stated use of the new capital—product and engineering growth—points to continued investment in the platform as customers deploy cloud applications and AI systems across multiple infrastructure providers.
- $400 million: Upwind’s Series C financing.
- $3.8 billion: valuation assigned to the company in the round.
- Four cloud providers: AWS, Microsoft Azure, Google Cloud and Oracle Cloud are supported.
The financing comes as security teams face a wider range of software components operating in production, including AI agents capable of taking actions inside company systems. Upwind’s offering is built around observing those systems in operation and providing security teams with information about how potential exposures can be reached and used.
