Cyera Raises $540M, Valuation Hits $6B for AI Data Security
Israeli data security company Cyera has raised $540 million in a late stage financing round, tripling its valuation to $6 billion, twice its previous value in only seven months. The financing, which will be used to scale Cyera's artificial intelligence-based data security platform, underscores the increasing demand for effective data protection as companies adopt generative AI technologies.
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Rapid Expansion Amid AI Booms
Cyera, which was founded in 2021, has grown explosively, with a 353% expansion in Fortune 500 customers in the last 18 months. The business has scaled to 10 nations and dramatically expanded its staff, now approaching 800 employees. The success is an indication of the growing need to protect the data fueling AI machines, a top-of-mind concern for businesses.
Key Investors Supporting Cyera's Expansion
The round was headed by Georgian, Greenoaks, and Lightspeed Venture Partners, with other notable investors such as Accel, Coatue, Sequoia Capital, and Sapphire Ventures. Cyera CEO Yotam Segev underscored the need to balance the velocity of AI adoption with security and control, making Cyera a pioneer in responsible AI data security.
