Cybersecurity is a top priority for many businesses seeking protection from cyber threats, and investors are eager to support innovative solutions in this space. Upwind, a cloud cybersecurity startup based in Israel, is on the verge of closing a $100 million funding round with a valuation of $850-$900 million.
The funding round includes both new and existing investors such as Craft Ventures, Greylock, CyberStarts, Leaders Fund, Sheva Fund, and Penny Jar, an investment fund backed by basketball star Steph Curry. The round, which is in its final stages, is expected to be completed soon and may attract additional investors.
This Series B funding round is a significant milestone for Upwind, which has already secured contracts with numerous Fortune 500 companies and expanded its team to 160 employees. The company, founded by Amiram Shachar, who previously sold his startup Spot.io to NetApp for $450 million, is focused on addressing vulnerabilities in cloud infrastructure.
Upwind’s technology aims to streamline threat detection and response by minimizing the number of false alerts generated by security tools. By reducing these alerts by 90%, the company enables security teams to concentrate on addressing genuine threats promptly and effectively.
The company’s platform covers a wide range of security concerns related to cloud services, workloads, and applications, offering a comprehensive approach to cybersecurity. With plans to use the new funding for research and development as well as expanding its workforce, Upwind intends to hire around 100 new employees in Israel, San Francisco, and Iceland.
As part of the growing ecosystem of cybersecurity startups in Israel, Upwind is leveraging the expertise of its team members, many of whom have backgrounds in military intelligence. The company’s platform approach to cloud security sets it apart in the industry, allowing it to provide holistic solutions that address various security challenges faced by businesses today.
As Upwind continues to evolve and expand its offerings, we will keep you updated on any new developments. Stay tuned for more updates on this exciting cybersecurity startup’s journey towards enhancing cloud security for businesses worldwide.
