Upwind raised a $400 million Series C at a $3.8 billion valuation, led by Bessemer Venture Partners with Greylock Partners and Craft Ventures participating, TechCrunch reported on October 28. Its previous round, nine months ago, was $250 million at $1.5 billion.
According to a person familiar with the company, Datadog tried to acquire Upwind while the round was in the works but didn't offer a premium over the $3.8 billion valuation, so Upwind stayed independent. The same source says Upwind adds $20 million to $30 million in annualized recurring revenue each quarter and is projected to end the year at about $90 million, which puts the valuation at more than 40 times forecast ARR.
Upwind calls its approach runtime security: it alerts on and fixes attacks and vulnerabilities in live services in real time. It was founded by Amiram Shachar, who sold his previous company, Spot.io, to NetApp for $450 million.