# UpGuard

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/upguard

- Industry: Software
- Headquarters: Mountain View, US
- Website: www.upguard.com
- Total disclosed funding: $121M
- Latest round: Series C (Feb 26, 2026)
- Investors on record: 13

## About

UpGuard, Inc. is a cybersecurity firm specializing in third-party risk management and attack surface monitoring, offering organizations tools to identify and mitigate vendor-related vulnerabilities effectively.Founded in 2012 by Mike Baukes in Mountain View, US, UpGuard, Inc. focuses on cybersecurity solutions. The company has completed 8 deals, including its most recent Series B funding round on May 28, 2021, raising USD 19.040 mn from investors such as August Capital and Pelion Venture Partners. UpGuard currently has a valuation of USD 160.778 mn and operates without known subsidiaries or parent companies.UpGuard provides a comprehensive suite of products for third-party risk and attack surface management. Their offerings encompass automated scanning, evidence analysis, and insights from vendor questionnaires, enabling organizations to maintain continuous monitoring of supply chains and external vulnerabilities. The platform delivers real-time alerts about changes in the security postures of third and fourth-party vendors, catering mainly to large enterprises across industries such as financial services, technology, and healthcare, with a focus on North America, Europe, and Asia-Pacific.UpGuard generates revenue through a subscription-based model, providing access to their risk management platform via annual or multi-year contracts. Clients choose tiered pricing based on services utilized, especially for flagship products like UpGuard Vendor Risk and UpGuard Breach Risk, which significantly contribute to revenue. The company's transactions are structured around B2B relationships, tailored to meet the specific needs of clients in monitoring their attack surfaces and supplier risks.Following a Series B funding round in June 2021 where UpGuard raised AUD 25 mn, the company plans to utilize the funding to accelerate product development and support global expansion. UpGuard aims to broaden its reach into new markets, enhancing its offerings and infrastructure to meet increasing demand. Specific details on upcoming product launches and targeted geographic regions for expansion have not been disclosed.

## Funding rounds

- Series C, Feb 26, 2026, $75M — Pelion Venture Partners, August Capital, Square Peg, Springcoast Partners
- Series B, May 28, 2021, $19M — Pelion Venture Partners, August Capital, Square Peg, IAG Firemark Ventures
- Series B, Aug 11, 2016, $17M — Pelion Venture Partners, August Capital, Fenwick & West, Square Peg, IAG, Cicada Innovations Incubator
- Series A, Aug 8, 2014, $8.7M — August Capital, Valar, Square Peg, ATP Innovations
- Seed, Jul 24, 2012, $1.2M — Starfish Ventures, Valar, 500 Global
- Seed, Jan 1, 2012, $0M — StartMate

## Investors

- StartMate (https://capitalatlas.ai/funds/startmate) — Seed
- Starfish Ventures (https://capitalatlas.ai/funds/starfish-ventures) — Seed
- Valar (https://capitalatlas.ai/funds/valar) — Seed, Series A
- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- August Capital (https://capitalatlas.ai/funds/august-capital) — Series A, Series B, Series C
- Square Peg (https://capitalatlas.ai/funds/square-peg) — Series A, Series B, Series C
- ATP Innovations — Series A
- Pelion Venture Partners (https://capitalatlas.ai/funds/pelion-venture-partners) — Series B, Series C
- Fenwick & West — Series B
- IAG — Series B
- Cicada Innovations Incubator — Series B
- IAG Firemark Ventures (https://capitalatlas.ai/funds/iag-firemark-ventures) — Series B
- Springcoast Partners (https://capitalatlas.ai/funds/springcoast-partners) — Series C