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Upwind raises $400M Series C at $3.8B after rejecting Datadog buyout

Cloud security startup Upwind closed a $400 million Series C led by Bessemer Venture Partners at a $3.8 billion valuation, with Greylock Partners and Craft Ventures also participating. The round nearly collapsed after Datadog offered to acquire Upwind but declined to pay above the valuation VCs had already set, prompting Upwind to stay independent instead.