Total amount raised
$47.4 Millions
Latest funding date
6/1/2021
Location
UpGuard has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform specializes in third-party risk and attack surface management, offering a suite of tools to enhance cybersecurity.
Keep reading to explore the intricacies of UpGuard's fundraising journey and the investors backing this innovative platform.
What Is UpGuard?
Founded in 2012 by Alan Sharp-Paul and Mike Baukes, UpGuard is headquartered in San Francisco, California. The company also has offices in Mountain View, California, and Portland, Oregon. Specializing in cyber resilience, UpGuard offers tools to assess and manage business risks posed by technology.
UpGuard's proprietary technology evaluates an organization's IT infrastructure, both internally and externally, to calculate potential risks for future intrusions and outages. The platform provides a CSTAR score to indicate risk levels for data breaches and assists companies in procuring cybersecurity insurance.
With a team of 101-250 employees, UpGuard continues to innovate in the field of third-party risk and attack surface management. Their solutions include Breach Risk, Vendor Risk, and Trust Exchange, catering to various industries such as Financial Services, Technology, and Healthcare.
How Much Funding Has UpGuard Raised?
- Series B
- Amount Raised: $19M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and support global expansion.
- Series B
- Amount Raised: $17M
- Date: August 2016
- Lead Investors: Pelion Venture Partners, Square Peg Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance cybersecurity offerings and expand market reach.
- Venture Round
- Amount Raised: A$2M
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund operational growth and technology improvements.
- Series A
- Amount Raised: $8.7M
- Date: August 2014
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance product features.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop core technology.
- Seed Round
- Amount Raised: $1.2M
- Date: June 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the company and build the initial product.
UpGuard has raised a total of $45.9M in funding. The current valuation is not publicly disclosed.
Key Investors
- Pelion Venture Partners
- Details: Pelion Venture Partners is a venture capital firm that invests in early-stage technology companies. They have a strong track record of supporting startups through their growth phases.
- Investment Focus Areas: Technology, SaaS, Enterprise Software
- Notable Investments: Red Hat, Riverbed Technology, Cloudflare
- Square Peg Capital
- Details: Square Peg Capital is a venture capital firm that invests in technology companies across various stages. They are known for their hands-on approach and global reach.
- Investment Focus Areas: Technology, Fintech, Healthtech
- Notable Investments: Canva, Airwallex, Fiverr
- August Capital
- Details: August Capital is a venture capital firm that focuses on investing in early-stage technology companies. They have a history of backing innovative startups.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Microsoft, Sun Microsystems, Splunk
- IAG Firemark Ventures
- Details: IAG Firemark Ventures is the corporate venture capital unit of IAG, the largest general insurer in Australia. They invest in startups that align with IAG's core business.
- Investment Focus Areas: Insurance, Risk Management, Technology
- Notable Investments: Not publicly disclosed
What's Next for UpGuard?
UpGuard is poised to capitalize on the growing demand for robust cybersecurity solutions. With a recent $19 million funding boost, the company is set to accelerate product development and expand its global footprint. This opportunity is significant, given the increasing importance of third-party risk management and attack surface management in today's digital landscape.
Future fundraising seems likely as UpGuard continues to scale and innovate. However, the company will need to navigate challenges such as intense competition and the rapidly evolving nature of cybersecurity threats. Successfully managing these hurdles will be crucial for sustaining growth and maintaining their competitive edge.
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