Israeli cloud infrastructure security company Upwind Securityannounced today that it has completed a $100 million in Series B financing round led by Craft Ventures with new investors TCV and Alta Park Capital, as well as all existing investors including Greylock, Cyberstarts, Leaders Fund, Cerca and Sheva - founded by Israeli former NBA star Omri Casspi. No valuation was disclosed but market sources say it was in the $850-900 million range.
Founded in 2022, Upwind Security has already raised $180 million, including the latest financing round. The company was founded by CEO Amiram Shachar, Liran Polak, Tal Zur and Lavi Ferdman who previously founded cloud security management company Spot.io, which was sold to NetApp for $450 million in 2020.
Upwind says the new funding will fuel its global expansion and innovation, with plans to double its workforce to nearly 300 people and enhance operations at its offices in Israel, San Francisco, the UK, and Iceland.
Upwind has developed a comprehensive cloud security platform (CNAPP) using a unique approach, powering traditional CNAPP capabilities with runtime context to provide prioritized findings and help organizations focus on real risks rather than being overwhelmed by irrelevant risks. The platform’s runtime-powered approach consolidates numerous security functionalities. Upwind was the first to include and identify the importance of API security and deep application runtime context as part of a CNAPP.
Shachar said, "Cloud security is becoming more complex, and organizations need smart solutions to help them move fast, without breaking anything. This investment reflects the growth and confidence we’re seeing from enterprise customers and allows us to give customers tools that make a real difference. Our platform is reshaping cloud security by tackling the constantly changing factors enterprises face in real-time. By offering clear cloud topologies and better visibility, we help teams focus on their most critical threats, not theoretical risks & false alarms, fostering stronger collaboration between security and DevOps while enabling faster, safer growth."
Published by Globes, Israel business news - en.globes.co.il - on December 2, 2024.
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