New updates have been reported about UpGuard.
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UpGuard has raised a $75 million Series C round led by growth equity firm Springcoast Partners, a minority investment that will fund expansion of its AI-powered Cyber Risk Posture Management platform, global go-to-market operations, and targeted M&A. CEO and co-founder Mike Baukes said the capital will be used to close the gap between risk and security for mid-market enterprises, enabling lean security teams to manage increasingly complex cyber threats with enterprise-grade tooling.
The company now serves 50,000 organizations in over 90 countries, including more than 2,000 paying customers supported by a distributed workforce across 14 countries, and it has been recognized in the G2 2026 Best Software Awards as a top 15 Security vendor and a top 100 global software company. UpGuard’s platform consolidates vendor, breach, user, data-sharing, and GRC automation risks, processing over 100 billion risk signals daily and, in the past 100 days alone, 23 billion tokens to power AI-driven risk assessments, threat detection, and questionnaire completion.
Operationally, this AI scale has produced more than 70,000 automated risk assessments and 700,000 AI-assisted security questionnaires, while its AI Threat Analyst has triaged 90 percent of over 483,000 breach alerts so security teams can focus on the most material incidents. Springcoast’s managing partner Holger Staude cited UpGuard’s capital efficiency, scale, and product vision as key reasons for the investment, positioning the company to reinforce its leadership in cyber risk posture management.
BofA Securities acted as exclusive placement agent and Fenwick served as legal counsel on the transaction, underscoring institutional confidence in UpGuard’s financial and governance profile. Founded in 2012 and headquartered in Hobart with U.S. headquarters in Mountain View, the company is expected to use the fresh capital to deepen AI capabilities, expand market share, and pursue acquisitions that can broaden its risk coverage and accelerate its global growth trajectory.