Key facts
- AI-driven data security startup Cyera raised $600 million.
- The company's valuation reached $12 billion.
- This funding round quadrupled Cyera's valuation from over a year ago.
- The investment was led by Evolution Equity Partners, with participation from Temasek and Cyberstarts.
- Cyera's software helps organizations discover, classify, and protect sensitive data across cloud and on-premise systems.
Data security firm Cyera announced it has raised $600 million at a $12 billion valuation in a late-stage funding round. This valuation represents a significant increase, quadrupling the company's worth from just over a year ago and underscoring heightened investor interest in data security solutions amidst escalating cybersecurity threats and the rapid integration of generative AI technologies.
The funding round was spearheaded by Evolution Equity Partners, with contributions from Singapore's state investor Temasek and Israeli venture capital fund Cyberstarts. Existing investors, including Accel, AT&T Ventures, Blackstone, and Coatue, also participated.
Cyera reported a threefold increase in annual recurring revenue for three consecutive years. The company has also expanded its global workforce to 1,500 employees across 18 countries and completed five acquisitions within the past 18 months. Its software is designed to help businesses identify, classify, and protect sensitive data across both cloud and on-premise systems, thereby managing risks and ensuring regulatory compliance.
Previously, in January, Cyera had raised $400 million at a $9 billion valuation, with those funds intended for product development, international expansion, and strategic partnerships.