Data Security Leader Cyera Secures $300 Million in Series D Funding, Reaching a $3 Billion ValuationAuthor of the article:
Published Nov 20, 2024 • 4 minute read
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Article contentRound led by Accel and Sapphire Ventures, accelerating the company’s mission to help enterprises safely harness the power of data
NEW YORK — Cyera, the leader in data security, today announced a $300 million Series D round, further accelerating its rapid growth and reinforcing its position at the forefront of the $23.68 billion data security market. This latest investment is led by Accel and Sapphire Ventures, with additional participation from Sequoia, Redpoint, Coatue, and Georgian—bringing Cyera’s valuation to $3 billion, a more than twofold increase in just six months. This funding follows Cyera’s $300 million Series C round earlier this year and brings Cyera’s total funding to $760 million since its founding in 2021.
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“We are excited to have the continued support of our investors as we push the boundaries of innovation and scale the world’s leading AI-driven data security platform,” said Yotam Segev, Co-Founder and CEO of Cyera. “Data security has become the top priority for businesses as they navigate the complexities of a rapidly evolving data landscape shaped by the rise of AI. This funding enables us to continue accelerating platform development, attracting world-class talent in R&D, sales, and marketing, and strategically acquiring solutions that align with our vision for the future of data security.”
As AI adoption skyrockets across industries, organizations face unprecedented challenges in securing their data. Cyera’s platform, powered by cutting-edge AI and machine learning, enables companies to continuously discover, classify, and protect their data across multiple environments—including cloud, Security-as-a-Service (SaaS), and on-premises systems—at a level of speed, scale, and precision unmatched by any other solution in the market. Cyera’s AI-driven platform can complete what competitors take years to accomplish in mere days, providing real-time visibility into sensitive data access and offering automated policies that dynamically adjust as data environments grow.
Cyera’s impressive growth is further underscored by its October acquisition of Trail Security, a next-gen data loss protection (DLP) company, for $162M. The strategic acquisition significantly enhances Cyera’s Data Security Posture Management (DSPM) solution and adds top-tier product and engineering talent from elite leadership programs like the Israel Ministry of Defence’s Talpiot to the Cyera team, further enabling the company to address the most urgent and complex data security challenges faced by the world’s largest enterprises. With this latest funding, Cyera is poised to expand its product capabilities, accelerate innovation, and continue delivering cutting-edge solutions that meet the evolving cybersecurity needs of its customers.
“This is the third round that Accel leads as Cyera continues to reinvent enterprise data security,” said Philippe Botteri, Partner at Accel. “Their initial DSPM product has now become a data security platform—including new capabilities like identity access and DLP. This team is an innovation powerhouse, and we are thrilled to be one of their largest investors.”
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“In just two years since its founding, Cyera has become the unified platform of choice for many companies when it comes to data security, providing exceptional coverage across structured and unstructured data in cloud, hybrid, and on-premise environments. We believe the company’s growth has been nothing short of incredible, empowering organizations to secure data comprehensively, maintain compliance and mitigate emerging risks like GenAI misuse—all while ensuring fast deployment and operational efficiency,” said Casber Wang, Partner at Sapphire Ventures. “Yotam and Tamar are forces of nature and we couldn’t be more excited to co-lead this round.”
For more information on Cyera and its offerings visit: https://www.cyera.io
About Cyera
Cyera is an AI-powered data security platform that helps organizations manage and protect their data in today’s complex digital landscape. The company’s platform combines advanced Data Security Posture Management (DSPM) with real-time enforcement controls, providing customers with a comprehensive solution for securing their data assets against evolving threats.
About Accel
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Bumble, CrowdStrike, Fiverr, Flipkart, Freshworks, Qualtrics, Scale, Segment, Slack, Spotify, Squarespace, Tenable, and UiPath are among the companies Accel has backed over the past 40+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.
About Sapphire Ventures
Sapphire is a global software venture capital firm with more than $10 billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For over a decade, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241120065588/en/
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cyera@longjump.agency
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