AI Data Security Startup Cyera Confirms $300M Raise at $1.4B Valuation
Cyera, a startup focused on cybersecurity, has secured a significant $300 million Series C funding round, elevating its valuation to $1.4 billion. The company’s AI-based platform assists organizations in comprehending the location and movement of data within their networks, crucial for implementing effective security measures against cyber threats and preventing data leaks.
This latest funding round, led by Coatue, marks a substantial increase in Cyera’s valuation in less than a year, following its $100 million Series B round in June 2023. The rapid growth underscores Cyera’s traction in the market, with its clientele comprising major multinational corporations.
New investors participating in the Series C round include Spark Capital, Georgian, and strategic backer AT&T Ventures. The involvement of AT&T, a prominent telecommunications company, is particularly noteworthy given its recent data breach incident in 2019, underscoring the importance of cybersecurity solutions like Cyera for preemptive defense and crisis mitigation.
Cyera CEO Yotam Segev highlighted the urgency and demand for cybersecurity solutions, emphasizing how companies often reach out for assistance during critical moments. Cyera’s platform enables rapid assessment and response to security incidents, helping organizations identify and address data breaches promptly.
With cybersecurity threats on the rise, Cyera’s substantial funding round signifies growing recognition of the importance of AI-driven solutions in safeguarding digital assets and maintaining data integrity.
