UpGuard Raises $75M in Series C Funding to Accelerate Market Leadership in Cyber Risk Posture Management

Strategic Investment by Springcoast Partners Will Drive Product Innovation and Global Expansion

HOBART, Australia and MOUNTAIN VIEW, Calif., Feb. 26, 2026 /PRNewswire/ -- UpGuard, a leader in cybersecurity and risk management, today announced it has raised a Series C funding round of $75M from Springcoast Partners. The minority funding round will accelerate UpGuard's next growth phase, including the expansion of its AI-powered Cyber Risk Posture Management (CRPM) platform capabilities, scaling global go-to-market functions, and pursuing strategic M&A. Springcoast led the round and joins existing investors, August Capital, Square Peg Capital, and Pelion Venture Partners.

"UpGuard has an opportunity to bridge the gap between risk and security, and this Series C round adds even more fuel to accelerate the delivery of our enterprise-grade solutions for the mid-market. This ensures that CISOs and lean security teams can stay resilient with best-in-class tools to address today's increasingly complex threat landscape," said UpGuard's co-founder and CEO Mike Baukes.

Today, UpGuard is trusted by 50k organizations in 90+ countries, including over 2000 customers who are supported by UpGuard's distributed workforce across 14 countries with localized support and diverse expertise. Backed by customer validation, UpGuard has been named a winner in the G2 2026 Best Software Awards, ranking in the top 15 companies for Security, and in the top 100 of all Global Software Companies. This recognition reinforces UpGuard's position as the category leader on G2 for Third-Party and Supplier Risk Management for 15 consecutive quarters, with a platform that processes more than 100 billion risk signals every day.

UpGuard's AI-powered CRPM platform unifies the fragmented cybersecurity landscape by correlating risk across typically overlooked posture areas, including: Vendor Risk for the supply chain, Breach Risk for the external attack surface, User Risk for workforce security, Trust Exchange for data sharing, and Risk Automations for GRC engineering.

UpGuard is redefining security operations by shifting the burden from manual review to AI-driven automated precision. In the last 100 days alone, the platform processed over 23 billion tokens to power risk assessments, threat signals, and security questionnaire completions. This massive computational scale has translated into tangible speed for customers: to date, more than 70k AI risk assessments and 700k AI autofill questionnaires have been completed, and UpGuard's AI Threat Analyst has been used to successfully triage 90 percent of over 483k breach signals to ensure security teams can focus on high-intent threats.

"UpGuard has proven its ability to execute and achieve significant scale and capital efficiency in a critical market, and they have the vision and technology to achieve even more. We are excited to partner with the UpGuard team as they expand their AI-CRPM platform capabilities and solidify their position as a leader in cyber risk posture management," said Holger Staude, Managing Partner at Springcoast.

BofA Securities acted as the exclusive placement agent to UpGuard on the transaction, and Fenwick provided legal counsel.

About UpGuard
Founded in 2012, UpGuard is a leader in cybersecurity and risk management. The company's AI-powered platform for Cyber Risk Posture Management (CRPM) provides a centralized, actionable view of cyber risk across an organization's vendors, attack surface, and workforce. Trusted by thousands of companies, UpGuard's platform is designed to help security teams manage cyber risk with confidence and efficiency. UpGuard is headquartered in Hobart, Tasmania with US headquarters in Mountain View, California. To learn more, visit www.upguard.com.

About Springcoast Partners
Established in 2023, Springcoast is a New York-based growth equity firm focused on partnering with market leading software and technology companies. To learn more about Springcoast, visit www.springcoast.com.

MEDIA CONTACT
Julie Huang
press@upguard.com

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