Datadog offered to buy Upwind Security, an Israeli startup whose software watches cloud apps and AI agents for signs of a breach, for nearly $4 billion, according to The Information. Upwind hasn’t accepted that offer or others it has received in recent months, and it’s finishing a $300 million funding round at about a $3.8 billion valuation, so Datadog’s bid carries little premium. Datadog made a roughly $1 billion offer for Upwind last year that fizzled, and since then Upwind’s annual recurring revenue has climbed past $50 million from about $20 million at the end of 2025. That puts the new offer at about 80 times revenue, a higher multiple than Google paid for Wiz.
