Upwind announces $400 million Series C, valuation reported at $3.8 billion

Upwind announced a $400 million Series C on October 28. The financing was reported to have closed at a $3.8 billion post-money valuation.

The announced amount is $100 million above the approximately $300 million financing DataPhoenix covered in September, when the amount, valuation and closing status had not been independently confirmed. Both reports concern the same Series C, rather than separate financing rounds, and the reported valuation is unchanged.

In its funding announcement, Upwind said Bessemer Venture Partners led the round and Canapi Ventures joined. Existing investors Greylock Partners, Cyberstarts, Craft, Salesforce Ventures, Alta Park, Picture Capital, Swish Ventures, Cerca Partners, TCV, Penny Jar and Leaders Fund also participated.

The company announcement confirms the round size and investor participation but does not disclose the valuation. Independent reporting places the closing valuation at $3.8 billion post-money, so the valuation remains a reported transaction term rather than a figure published in Upwind’s announcement.

Upwind said the new capital will support product development and expansion of its go-to-market operations for its cloud and AI security platform.