Cyera Secures $300M Funding, Valuation Soars to $3B as AI-Driven Data Security Gains Traction

Data Security Startup Cyera More Than Doubles Value To $3B In Seven Months

After raising $300 million in April, data security startup Cyera closed another $300 million windfall at more than twice its previous valuation. The New York-based company announced a $300 million Series D led by Accel and Sapphire Ventures at a $3 billion valuation. Just seven months ago, Cyera raised a $300 million Series C led by Coatue at a $1.4 billion valuation. That round nearly tripled the startup's valuation from its $100 million Series B in June 2023 that valued it at $500 million. Founded in 2021, Cyera has raised $760 million to date, per the company. Sequoia Capital, Redpoint Ventures, Coatue and Georgian also participated in the new round announced Wednesday. While a cybersecurity company, Cyera is certainly riding the AI wave. The startup has an AI-powered data security platform that helps security teams at companies understand what data they have and how it's used, as well as how to secure it across a complex digital landscape. Of course, the reliance on data has only become stronger as companies drive AI initiatives. Cyera also uses AI in its platform to assess risks a companies' data represents regarding security, privacy and regulatory compliance. "Data security has become the top priority for businesses as they navigate the complexities of a rapidly evolving data landscape shaped by the rise of AI," said co-founder and CEO Yotam Segev in a release. "This funding enables us to continue accelerating platform development, attracting world-class talent in R&D, sales, and marketing, and strategically acquiring solutions that align with our vision for the future of data security."

Cyera raises $300M on $3B valuation to advance AI-driven data security platform - SiliconANGLE

Cyera raises $300M on $3B valuation to advance AI-driven data security platform Data security solutions provider Cyera Ltd. announced today that it has raised $300 million in new funding on a $3 billion valuation to accelerate platform development and make strategic acquisitions. Founded in 2021, Cyera offers an artificial intelligence-driven data security platform that allows organizations to discover, classify and protect their data across various environments, including cloud, software-as-a-service and on-premises systems. The company's platform provides real-time visibility into sensitive data access and implements automated policies that adapt dynamically as data environments evolve. A key component of Cyera's offering is its data security posture management solution that assists organizations in assessing and enhancing their data security posture. The solution continuously monitors data assets to identify potential risks and vulnerabilities. It also enables proactive remediation to maintain compliance and reduce exposure to threats. Cyera's platform also includes advanced data loss prevention capabilities designed to prevent data breaches and unauthorized data transfers. The features help organizations safeguard their sensitive information by detecting and blocking potential data exfiltration attempts. According to Cyera, its AI-driven platform can complete what competitors take years to accomplish in mere days, providing real-time visibility into sensitive data access and offering automated policies that dynamically adjust as data environments grow. Cyera has seen strong growth and counts among its customers AT&T Inc., Peloton Interactive Inc., Docusign Inc., Paramount Global, Chipotle Mexican Grill Inc., LifeLabs Medical Laboratory Services and New American Funding. The Series D round was led by Accel Partners Management and Sapphire Ventures, with Sequoia Capital Operations, Redpoint Ventures Management, Coatue Management and Georgian Partners Growth LP also participating. "Data security has become the top priority for businesses as they navigate the complexities of a rapidly evolving data landscape shaped by the rise of AI," said co-founder and Chief Executive Yotam Segev. "This funding enables us to continue accelerating platform development, attracting world-class talent in R&D, sales and marketing, and strategically acquiring solutions that align with our vision for the future of data security." With the new round, Cyera has raised $760 million to date, including rounds of $300 million on a $1.4 billion valuation in April and $100 million in June 2023. Cyera was last in the news in October when it announced it had acquired Israeli data loss prevention company Trail Security Ltd. for $162 million. Trial Security's DLP capabilities are being integrated with Cyera's DSPM platform to elevate the platform's ability to offer a comprehensive, unified data security solution.