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It has been sluggish on the M&A entrance in most sectors all yr — and cybersecurity is not any completely different.
Nonetheless, on Thursday New York-based knowledge safety startup Cyera purchased knowledge loss prevention agency Trail Security for $162 million. Path had been backed with greater than $35 million of funding from the likes of Lightspeed Venture Partners, CRV and Cyberstarts.
“The acquisition of Path is a pivotal step in Cyera’s journey to reshape the way forward for knowledge safety,” mentioned Yotam Segev, CEO and co-founder of Cyera, in a release.
Cyera provides a platform that helps safety groups at corporations perceive what knowledge they’ve and the way it’s used, in addition to the right way to safe it — all of which has change into extra essential with corporations counting on knowledge to drive AI initiatives. The startup additionally makes use of AI in its platform to evaluate dangers an organization’s knowledge represents relating to safety, privateness and regulatory compliance.
In April, Cyera raised a $300 million Series C led by Coatue at a $1.4 billion valuation. The spherical almost tripled the startup’s earlier valuation from its $100 million Series B in June 2023.
The corporate reportedly is taking a look at at the least $200 million at a pre-money valuation of round $3 billion.
Based in 2021, Cyera has raised almost $465 million thus far, per Crunchbase.
M&A uptick
Thus far this yr, there have been 67 M&A offers involving VC-backed startups in cybersecurity, per Crunchbase data.
That’s already greater than the 58 for all of final yr. Regardless of the widely sluggish M&A market, this year could even beat 2022’s 84 deals involving VC-back cyber startups.
The most important M&A cyber deal this yr involving a VC-backed agency was bank card large Mastercard agreeing to buy risk intelligence firm Recorded Future for $2.65 billion.
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