UpGuard raises $75M Series C led by Springcoast to scale AI cyber risk tools
What's the deal? Australian cybersecurity scaleup UpGuard has raised US$75M (A$105M) in Series C funding led by New York-based Springcoast Capital PartnersDealroom has a profile for this one. Try Dealroom →. The round backs UpGuard’s push to expand its cyber risk platform, including more AI-driven capabilities.
UpGuard sells tools that help companies assess cyber exposure across suppliers and third parties. It is positioning itself for larger enterprise deals as scrutiny of supply chain risk grows.
Why now? Third-party breaches keep rising, and boards want clearer visibility into vendor risk. At the same time, security teams are under pressure to do more with fewer people, boosting demand for automation.
AI is also changing the threat landscape, pushing security vendors to ship faster and differentiate. New capital gives UpGuard room to invest while the market is still moving.
What could go wrong? Cybersecurity is crowded, with well-funded rivals chasing the same budgets. Long sales cycles can slow growth even when demand is strong.
AI features bring their own risks, including false positives and overpromised automation. If results do not match the pitch, enterprise trust can fade quickly.
The signal: A US$75M late-stage round shows investors are still backing cybersecurity platforms with clear enterprise pain points. Third-party and supply chain risk is becoming a permanent line item, not a one-off project.
For Australia’s tech scene, it is another reminder that global-scale enterprise software can be built far from Silicon Valley. For the sector, it is more capital flowing to tools that turn risk into measurable, board-ready reporting.
Sources:
Forbes
Startup Researcher
Capital Brief
Startup Rise
Image source:
Smart Company
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