Israeli Cloud Security Firm Upwind Nears $100M Funding Round, Expected Valuation Reaches Nearly $900M

As the demand for robust cybersecurity solutions rises, Israeli cloud security startup Upwind is reportedly closing in on a significant $100 million funding round that would bring its valuation to between $850 million and $900 million, according to sources familiar with the deal. This Series B round has attracted support from both new and returning investors, including Craft Ventures, Greylock, CyberStarts, and the Leaders Fund, alongside individual investors like Omri Casspi and NBA star Steph Curry's fund, Penny Jar.

Upwind has seen rapid growth over the past year, now serving several Fortune 500 clients and expanding its team to around 160 employees. Founded by Amiram Shachar, known for previously selling Spot.io to NetApp for $450 million, Upwind leverages extensive experience from Israel’s cybersecurity sector to address cloud-specific vulnerabilities.

Upwind’s platform is designed to simplify and streamline cloud security. It reduces the high volume of alerts produced by threat detection tools by 90%, allowing security teams to focus on critical issues. Their technology spans various cloud services, covering vulnerability management, identity security, container security, and API vulnerability management.

This latest funding will drive Upwind's R&D and expansion plans, which include adding about 100 new positions across offices in Israel, San Francisco, and Iceland. As cloud security becomes an essential need for enterprises worldwide, Upwind’s growth trajectory is one to watch.