Upwind raises $400 million Series C, declines Datadog offer
Original title: Upwind raises $400M after walking away from Datadog acquisition offer
Nine months after a $250 million round, the startup is valued at $3.8 billion with about $90 million forecast ARR.
San Francisco cloud-security startup Upwind raised a $400 million Series C at a $3.8 billion valuation led by Bessemer Ventures, with Greylock Partners and Craft Ventures participating. A person familiar with the company said Datadog explored buying Upwind but did not bid above that valuation, so Upwind stayed independent. The same sourcing projects roughly $90 million in annualized recurring revenue by year-end. TechCrunch has asked both companies for comment.
Unconfirmed: The Datadog talks and ARR figures are attributed to people familiar with Upwind and are not confirmed by the companies.
- Bessemer led; Greylock Partners and Craft Ventures also participated.
- A source says Datadog did not bid above the $3.8 billion valuation.
- ARR is said to rise by $20 million to $30 million each quarter.
- Founder Amiram Shachar previously sold Spot.io to NetApp for $450 million.
From the original article
2 min read at techcrunch.com
The cloud security startup raised a Series C at a $3. 8B valuation, instead of selling itself for the same price.
By Marina Temkin · techcrunch.com
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