While it is true that cybersecurity funding has slowed significantly, it has not dried up.
Data security startup Cyera has raised $300 million in Series C led by Coatue at a $1.4 billion valuation. In addition to new investors Spark Capital, Georgian, and AT&T Ventures, existing investors Sequoia Capital, Accel, Redpoint Ventures, and Cyberstarts also participated in the round.
The round nearly triples the New York-based startup’s valuation from its $500 million Series B valuation of $100 million last June. Cyera was founded in 2021 and the company has raised $460 million to date.
Cyera provides a platform that helps enterprise security teams understand what data they have, how it’s used, and how to protect it. All of this is becoming more important as companies rely on data to power their AI initiatives.
The startup also uses AI on its platform to assess the risk that a company’s data represents in terms of security, privacy, and regulatory compliance.
“CIOs and CISOs recognize that securing all corporate data is absolutely critical to succeeding and surviving in the new AI-driven world,” said Co-Founder and CEO Yotam Segev said. “Cyera is working closely together to solve this problem for the world’s largest companies.”
cyber cash
Cyera has become the latest cybersecurity company to make headlines for raising big money, or at least the potential for big money.
Rubrik, another Microsoft-backed data security company, filed to go public just last week, in the latest sign of a reinvigorated IPO market.
The past month has also seen a number of large private rounds of funding by startups.
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Illustration: Dom Guzman
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