-59%

est. 2Y upside i

CybersecuritySeries B

Upwind Cloud Security Platform bridges intelligence from runtime to build-time, eliminating friction & boosting the productivity of your developers, security engineers, and DevOps. Upwind delivers comprehensive cloud security, precisely when and where it’s most critical.

Rank

#3390

Sector

Cybersecurity

Est. Liquidity

~4Y

Data Quality

Data: Medium

Upwind's equity offers limited upside potential due to very low revenue growth (9% YoY) and a high $1.5B valuation.

Last updated: July 21, 2026

Bull (15%)+10%

If Upwind achieves an IPO or becomes category leader, its revenue multiple could hold at ~25x, yielding 9.8% upside on projected FY2028 revenue of $66M. This requires sustained growth acceleration above 20%.

Base (55%)-56%

Multiple converges to public comp range of ~10x on projected $66M revenue, giving an implied value of $659M, or -56% from entry. Slow 9% growth fails to justify current valuation.

Bear (30%)-100%

Multiple compresses to 6x, implying $395M exit below $430M funding, wiping out common stock. Preference stack absorbs all proceeds.

Est. time to liquidity~4.0 years

Preference Stack Risk

high

Funding Intensity

2870%

Total funding $430M vs valuation $1.5B = 28.7% overhang, meaning common stock is subordinate to a large preferred stack.

Dilution Risk

low

Recent $250M Series B provides ample runway; no further dilution expected within 2 years.

Secondary Liquidity

none

No secondary market activity reported; shares are illiquid until exit.

Questions to Ask at the Interview

Strategic questions based on Upwind's data — designed to show you've done your homework.

  • 1

    “What specific strategies will Upwind use to accelerate revenue growth above the current 9% rate?”

  • 2

    “How does Upwind's runtime-first approach differentiate against CrowdStrike's Falcon and Palo Alto's Prisma Cloud?”

  • 3

    “Given the large Series B raise and preference stack, what is the realistic timeline and path to liquidity for employee equity?”

Community

Valuation Sentiment

Our model estimates -59% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.