diff --git a/package.json b/package.json
index 8e712c19..c4c5e2a0 100644
--- a/package.json
+++ b/package.json
@@ -36,7 +36,7 @@
   "dependencies": {
     "@segment/loosely-validate-event": "^2.0.0",
     "axios": "^0.27.2",
-    "axios-retry": "3.2.0",
+    "axios-retry": "3.4.0",
     "lodash.isstring": "^4.0.1",
     "md5": "^2.2.1",
     "ms": "^2.0.0",
diff --git a/yarn.lock b/yarn.lock
index 4625fd9f..f94e9df3 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -223,6 +223,13 @@
   resolved "https://registry.yarnpkg.com/@babel/parser/-/parser-7.14.3.tgz#9b530eecb071fd0c93519df25c5ff9f14759f298"
   integrity sha512-7MpZDIfI7sUC5zWo2+foJ50CSI5lcqDehZ0lVgIhSi4bFEk94fLAKlF3Q0nzSQQ+ca0lm+O6G9ztKVBeu8PMRQ==
 
+"@babel/runtime@^7.15.4":
+  version "7.21.0"
+  resolved "https://registry.yarnpkg.com/@babel/runtime/-/runtime-7.21.0.tgz#5b55c9d394e5fcf304909a8b00c07dc217b56673"
+  integrity sha512-xwII0//EObnq89Ji5AKYQaRYiW/nZ3llSv29d49IuxPhKbtJoLP+9QUUZ4nVragQVtaVGeZrpB+ZtG/Pdy/POw==
+  dependencies:
+    regenerator-runtime "^0.13.11"
+
 "@babel/template@^7.12.13":
   version "7.12.13"
   resolved "https://registry.yarnpkg.com/@babel/template/-/template-7.12.13.tgz#530265be8a2589dbb37523844c5bcb55947fb327"
@@ -885,12 +892,13 @@ ava@^0.25.0:
     unique-temp-dir "^1.0.0"
     update-notifier "^2.3.0"
 
-axios-retry@3.2.0:
-  version "3.2.0"
-  resolved "https://registry.yarnpkg.com/axios-retry/-/axios-retry-3.2.0.tgz#eb48e72f90b177fde62329b2896aa8476cfb90ba"
-  integrity sha512-RK2cLMgIsAQBDhlIsJR5dOhODPigvel18XUv1dDXW+4k1FzebyfRk+C+orot6WPZOYFKSfhLwHPwVmTVOODQ5w==
+axios-retry@3.4.0:
+  version "3.4.0"
+  resolved "https://registry.yarnpkg.com/axios-retry/-/axios-retry-3.4.0.tgz#f464dbe9408e5aa78fa319afd38bb69b533d8854"
+  integrity sha512-VdgaP+gHH4iQYCCNUWF2pcqeciVOdGrBBAYUfTY+wPcO5Ltvp/37MLFNCmJKo7Gj3SHvCSdL8ouI1qLYJN3liA==
   dependencies:
-    is-retry-allowed "^1.1.0"
+    "@babel/runtime" "^7.15.4"
+    is-retry-allowed "^2.2.0"
 
 axios@^0.27.2:
   version "0.27.2"
@@ -4261,10 +4269,10 @@ is-retry-allowed@^1.0.0:
   version "1.1.0"
   resolved "https://registry.yarnpkg.com/is-retry-allowed/-/is-retry-allowed-1.1.0.tgz#11a060568b67339444033d0125a61a20d564fb34"
 
-is-retry-allowed@^1.1.0:
-  version "1.2.0"
-  resolved "https://registry.yarnpkg.com/is-retry-allowed/-/is-retry-allowed-1.2.0.tgz#d778488bd0a4666a3be8a1482b9f2baafedea8b4"
-  integrity sha512-RUbUeKwvm3XG2VYamhJL1xFktgjvPzL0Hq8C+6yrWIswDy3BIXGqCxhxkc30N9jqK311gVU137K8Ei55/zVJRg==
+is-retry-allowed@^2.2.0:
+  version "2.2.0"
+  resolved "https://registry.yarnpkg.com/is-retry-allowed/-/is-retry-allowed-2.2.0.tgz#88f34cbd236e043e71b6932d09b0c65fb7b4d71d"
+  integrity sha512-XVm7LOeLpTW4jV19QSH38vkswxoLud8sQ57YwJVTPWdiaI9I8keEhGFpBlslyVsgdQy4Opg8QOLb8YRgsyZiQg==
 
 is-scoped@^2.1.0:
   version "2.1.0"
@@ -6447,6 +6455,11 @@ regenerator-runtime@^0.11.0:
   resolved "https://registry.yarnpkg.com/regenerator-runtime/-/regenerator-runtime-0.11.1.tgz#be05ad7f9bf7d22e056f9726cee5017fbf19e2e9"
   integrity sha512-MguG95oij0fC3QV3URf4V2SDYGJhJnJGqvIIgdECeODCT98wSWDAJ94SSuVpYQUoTcGUIL6L4yNB7j1DFFHSBg==
 
+regenerator-runtime@^0.13.11:
+  version "0.13.11"
+  resolved "https://registry.yarnpkg.com/regenerator-runtime/-/regenerator-runtime-0.13.11.tgz#f6dca3e7ceec20590d07ada785636a90cdca17f9"
+  integrity sha512-kY1AZVr2Ra+t+piVaJ4gxaFaReZVH40AKNo7UCX6W+dEwBo/2oZJzqfuN1qLq1oL45o56cPaTXELwrTh8Fpggg==
+
 regex-cache@^0.4.2:
   version "0.4.4"
   resolved "https://registry.yarnpkg.com/regex-cache/-/regex-cache-0.4.4.tgz#75bdc58a2a1496cec48a12835bc54c8d562336dd"