Data security startup Cyera secures $400 million in Series F funding
Cyera, a data security startup based in New York, is on a rapid growth trajectory. The company recently announced a successful $400 million Series F funding round, valuing the company at $9 billion. This latest funding round brings Cyera’s total funding to over $1.7 billion, following a $540 million investment just six months ago which valued the company at $6 billion.
The Series F funding round was led by funds managed by Blackstone, with participation from existing investors such as Accel, Coatue, Lightspeed, Redpoint, Sapphire, and Sequoia.
What Cyera offers
Cyera provides a service known as data security posture management, which helps companies identify and manage their sensitive data across various cloud systems and databases. This service enables companies to track how their employees and applications interact with sensitive data, as well as identify and mitigate security vulnerabilities.
The increasing adoption of AI technology has led to a surge in the volume of data that companies handle, raising concerns about data security and leaks. Cyera’s innovative solution has attracted one-fifth of the Fortune 500 companies as customers and has seen a significant revenue increase, more than tripling in the last year.
The demand for AI security solutions among enterprises has driven investors to support Cyera’s growth and development, making it a key player in the data security market.
