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

After elevating $300 million in April, information safety startup Cyera closed one other $300 million windfall at greater than twice its earlier valuation.

The New York-based firm introduced a $300 million Collection D led by Accel and Sapphire Ventures at a $3 billion valuation. 

Simply seven months in the past, Cyera raised a $300 million Collection C led by Coatue at a $1.4 billion valuation. That spherical practically tripled the startup’s valuation from its $100 million Series B in June 2023 that valued it at $500 million. Based in 2021, Cyera has raised $760 million thus far, per the corporate.

Sequoia Capital, Redpoint Ventures, Coatue and Georgian additionally participated within the new spherical introduced Wednesday.

Cyber and AI

Whereas a cybersecurity firm, Cyera is actually driving the AI wave. The startup has an AI-powered information safety platform that helps safety groups at corporations perceive what information they’ve and the way it’s used, in addition to the right way to safe it throughout a fancy digital panorama. In fact, the reliance on information has solely develop into stronger as corporations drive AI initiatives.

Cyera additionally makes use of AI in its platform to evaluate dangers a corporations’ information represents concerning safety, privateness and regulatory compliance.

“Information safety has develop into the highest precedence for companies as they navigate the complexities of a quickly evolving information panorama formed by the rise of AI,” mentioned co-founder and CEO Yotam Segev in a release. “This funding allows us to proceed accelerating platform improvement, attracting world-class expertise in R&D, gross sales, and advertising, and strategically buying options that align with our imaginative and prescient for the way forward for information safety.”

Cyera’s spherical is likely one of the largest in cyber this yr and the most important since safe content material firm Kiteworks raised a $456 million spherical from Insight Partners and Sixth Street.

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Illustration: Dom Guzman