# Upwind Raises $400 Million at $3.8 Billion After, TechCrunch Reports, Turning Down a Datadog Offer With No Premium

Times of AI Desk · 2026-10-29 · Security

[https://timesof.ai/2026/10/upwind-400m-series-c-3-8b-datadog-offer](https://timesof.ai/2026/10/upwind-400m-series-c-3-8b-datadog-offer)

> Cloud-security startup Upwind said on October 28 it closed a $400 million Series C at a $3.8 billion valuation led by Bessemer, and that its revenue quadrupled in 2026. TechCrunch, citing one unnamed source, reported that Upwind rejected a Datadog acquisition offer with no premium and expects about $90 million of ARR at year-end.

Upwind's new round puts a price on staying independent in cloud security. The company said on October 28 that it had closed a **$400 million Series C** at a **$3.8 billion** valuation, led by Bessemer Venture Partners. TechCrunch, citing a person familiar with the matter, reported that Upwind had walked away from an acquisition offer from Datadog that carried no premium to that valuation.

## The round

Canapi Ventures, Cyberstarts, Greylock, Craft Ventures, Leaders Fund, Salesforce Ventures and TCV were among the participants, according to Upwind. The company said its revenue quadrupled in 2026; it did not give a figure. Its Series B, in January 2026, valued it at $1.5 billion, the company said.

TechCrunch reported, again from an unnamed source, that Upwind expects to end the year at about $90 million in annual recurring revenue, which would put the new valuation at more than 40 times that figure. Neither Upwind nor Datadog is quoted confirming the offer.

## The market it is betting on

Upwind sells runtime security for cloud workloads, the category Google paid $32 billion to enter when it [closed its Wiz acquisition](https://timesof.ai/2026/03/google-acquires-wiz-for-ai-cloud-security) in March. A Datadog deal would have folded Upwind into an observability platform; the round lets it keep selling on its own while larger vendors consolidate.

## Limits

- The Datadog offer, its terms and the ARR forecast come from a single unnamed source cited by TechCrunch.
- Upwind gave no revenue figure behind the "quadrupled" claim.
- How the round is split between new and existing investors was not disclosed.

## Sources

- [Upwind via GlobeNewswire: Upwind closes $400 million Series C at $3.8 billion valuation as revenue quadruples in 2026 (October 28, 2026)](https://www.globenewswire.com/news-release/2026/10/28/3390753/0/en/upwind-closes-400-million-series-c-at-3-8-billion-valuation-as-revenue-quadruples-in-2026.html)
- [TechCrunch: Upwind raises $400M after walking away from Datadog acquisition offer (October 28, 2026)](https://techcrunch.com/2026/10/28/upwind-raises-400m-after-walking-away-from-datadog-acquisition-offer/)