Upwind raises $400M after walking away from Datadog acquisition offer
The cloud security startup raised a Series C at a $3.8B valuation, instead of selling itself for the same price.
The cloud security startup raised a Series C at a $3.8B valuation, instead of selling itself for the same price.
The short version
- Get your pass and bring someone with you at 50% off.
- The round comes nine months after Upwind closed its previous $250 million financing at a $1.5 billion valuation .
- The fresh funding, which has been in the works for months, nearly fell apart after Datadog attempted to buy the company, according to a person familiar with Upwind.
What happened
Datadog is a publicly traded company that sells tools for monitoring how software runs, known as observability. It didn’t offer a premium above the $3.8 billion valuation set by venture capital investors, the person said, so Upwind decided to stay independent.
Why it matters
Cybersecurity is poised to be the third big wave of AI software that companies will pay for after AI coding tools and customer support, Theory Ventures general partner Tomasz Tunguz recently wrote in his widely read blog.
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