Total amount raised
$93 Millions
Latest funding date
5/1/2021
Location
Uptycs has successfully raised significant funding through multiple rounds, including a Series C round. The company is backed by prominent investors such as Sapphire Ventures and Norwest Venture Partners.
Continue reading to delve into the details of Uptycs' funding journey and the strategic investors supporting its growth in the cloud security landscape.
What Is Uptycs?
Founded in 2016, Uptycs is a cloud security platform based in Waltham, Massachusetts. The company was established by Ganesh Pai, Mike Hluchyj, Milan Shah, and Uma Reddy.
Uptycs specializes in reducing risk by prioritizing threats and vulnerabilities across cloud, containers, and endpoints. Their platform offers a unified security console, policy framework, and data lake to optimize security operations, ensure compliance, and accelerate remediation.
With a team of 101-250 employees, Uptycs continues to innovate in the cloud security landscape, providing comprehensive solutions for workload protection, posture management, detection and response, and more.
How Much Funding Has Uptycs Raised?
- Seed Round
- Amount Raised: $3M
- Date: June 2016
- Lead Investors: Comcast Ventures, Genacast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial cloud security platform.
- Series A
- Amount Raised: $10M
- Date: June 2018
- Lead Investors: Forgepoint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations.
- Series B
- Amount Raised: $30M
- Date: June 2020
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and support market expansion.
- Series C
- Amount Raised: $50M
- Date: May 2021
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation of the cloud-native security analytics platform.
Total Amount Raised: $93M. Current Valuation: Not publicly disclosed.
Key Investors
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global venture capital and growth equity investment firm. They have over $9.5 billion in capital under management and invest in companies across various stages and sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Spotify, Uber, BlueJeans
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that partners with growth-stage technology companies. They manage over $4 billion in assets and have a strong track record of helping companies scale.
- Investment Focus Areas: Enterprise technology, consumer technology, fintech
- Notable Investments: LinkedIn, Box, Square
- Forgepoint Capital
- Details: Forgepoint Capital is a venture capital firm that focuses on cybersecurity and infrastructure software. They have a dedicated team of experts who provide strategic guidance to their portfolio companies.
- Investment Focus Areas: Cybersecurity, infrastructure software, enterprise software
- Notable Investments: Appthority, Area 1 Security, BehavioSec
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation. They invest in innovative companies across various stages and sectors, leveraging Comcast's resources to help them grow.
- Investment Focus Areas: Media, technology, consumer products
- Notable Investments: Nextdoor, Houzz, FanDuel
- Genacast Ventures
- Details: Genacast Ventures is an early-stage venture capital firm that partners with technology entrepreneurs. They focus on seed and early-stage investments, providing both capital and strategic support.
- Investment Focus Areas: Enterprise software, cybersecurity, digital media
- Notable Investments: Demisto, Moat, Invite Media
What's Next for Uptycs?
Uptycs stands at the cusp of significant growth, driven by the increasing demand for cloud-native security solutions. The company is poised to expand its platform capabilities, addressing critical security needs such as Extended Detection & Response (XDR), Cloud Workload Protection (CWPP), and Cloud Security Posture Management (CSPM). With a recent $50 million Series C funding round, Uptycs is well-positioned to scale its global sales and marketing operations, tapping into a market projected to reach $15 billion by 2026.
Future fundraising opportunities seem promising as Uptycs continues to demonstrate triple-digit growth and attract high-profile clients like Comcast Security and Flexport. However, the company must navigate challenges such as securing a rapidly evolving attack surface and competing with other security analytics providers. Maintaining innovation and scaling effectively will be crucial as Uptycs aims to solidify its position in the cybersecurity landscape.
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