Funding round
Upwind Series A
Upwind, which works in cloud security platform development in San Francisco, raised $100M in a Series A round announced on 2 Dec 2024, led by Craft Ventures, at a $900M post-money valuation. 9 firms took part, 7 of them already investors. It is Upwind's first venture round on record.
$100M
Amount raised
$900M
Post-money valuation
$800M pre-money
9
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Upwind at $900M after the new money. The $100M bought investors about 11% of the company. It is Upwind's first venture round on record, 2 years after it was founded in 2022. It is 15% of the $650M Upwind has raised in the venture rounds on record. Upwind raised again 13 months later: a Series B round of $250M in Jan 2026, at $1.50B post-money.
Upwind's funding rounds
Upwind has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Craft Ventures led the round with 8 other firms. Craft Ventures, Greylock Partners, Cyberstarts and Leaders Fund and 3 more had backed Upwind before.
Lead investor
- Craft Ventures backs 197 venture-backed companies existing investor
Also in the round
- Technology Crossover Ventures backs 86 venture-backed companies new investor
- Alta Park Capital new investor
- Greylock Partners backs 190 venture-backed companies existing investor
- backs 21 venture-backed companies existing investor
- backs 16 venture-backed companies existing investor
- backs 5 venture-backed companies existing investor
- backs 21 venture-backed companies existing investor
- backs 23 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,487 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 8.3 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 13 Dec 2024 | $250M | $2.35B | AMD Ventures and Advanced Micro Devices Inc. |
| Tech Companies | 2 Dec 2024 | $60M | $600M | Tiger Global |
| Tech Companies | 1 Dec 2024 | $50M | not disclosed | Mawer Investment Management Ltd. and Edgepoint Wealth Management Inc. |
| Tech Companies | 19 Dec 2024 | $48M | not disclosed | Accel |
| Tech Companies | 17 Dec 2024 | $34M | not disclosed | Khosla Ventures |
| Decart Tech Companies | 19 Dec 2024 | $32M | $500M | Benchmark |
| Tech Companies | 19 Dec 2024 | $30M | not disclosed | Andreessen Horowitz and New Enterprise Associates |
| Tech Companies | 1 Dec 2024 | $30M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Upwind raise in its Series A round?
Upwind raised $100M in its Series A round, announced in Dec 2024.
Who led Upwind's Series A round?
Craft Ventures led it, with Technology Crossover Ventures, Alta Park Capital, Greylock Partners, Cyberstarts and Leaders Fund and 3 more.
What was Upwind's valuation at the Series A round?
$900M post-money ($800M pre-money).
How does it compare with other Series A rounds in Tech Companies?
1,487 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 8.3 times the median.
Did Upwind raise again after this round?
Yes: a Series B round in Jan 2026 of $250M at $1.50B post-money.