San Francisco's Upwind raises $400 million and turns down Datadog
The Series C values the cloud-security company at $3.8 billion, the same price Datadog offered, according to a person familiar with the talks.
Upwind, a San Francisco startup that uses AI to secure cloud infrastructure, has raised a $400 million Series C at a $3.8 billion valuation, TechCrunch reported Wednesday. Bessemer Venture Partners led the round, with Greylock Partners and Craft Ventures among existing backers. The round comes nine months after a $250 million financing at a $1.5 billion valuation.
A person familiar with the company said the round nearly fell apart after Datadog tried to buy Upwind and did not offer a premium above the $3.8 billion venture price, so Upwind declined. Datadog sells software that monitors how applications run.
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