Cyera, a leading startup in the field of AI-based data security, has secured a significant milestone with a $300 million Series C funding round, raising its valuation to $1.4 billion. The investment, led by Coatue and joined by Spark Capital, Georgian, AT&T Ventures, and other strategic investors, underscores Cyera's rapid growth and market potential.
Founded with a mission to address the dual challenge and opportunity posed by artificial intelligence in cybersecurity, Cyera has developed an AI-powered platform to help organizations understand and safeguard the movement of data within their networks. This capability is crucial for mitigating cyber threats and preventing data breaches, especially in an era where the volume and complexity of data continue to escalate.
Cyera's impressive traction and customer base, which includes multinational corporations, validate the company's innovative approach and market relevance. The platform offers comprehensive visibility into an organization's data landscape, spanning hybrid environments with diverse applications, devices, and cloud infrastructure.
Yotam Segev, CEO of Cyera, emphasized the critical role of AI security in today's enterprise landscape. He highlighted the fundamental challenge faced by organizations: the lack of control over their data, which is essential for AI-driven initiatives. Cyera's platform enables businesses to gain insights into their data assets, identify potential risks, and ensure compliance with regulatory requirements.
Segev and his co-founder, Tamar Bar-Ilan, bring a unique blend of technical expertise and entrepreneurial acumen, honed through their experiences in the Israeli military. Their leadership has garnered investor confidence, with Sequoia, Accel, Redpoint, Cyberstarts, and other previous backers participating in the Series C round.
Doug Leone, board member at Cyera and former partner at Sequoia, commended the founders' vision and leadership, emphasizing the critical importance of data security in today's digital landscape. David Schneider, general partner at Coatue Management, likened Cyera's platform to the early days of successful enterprise solutions like ServiceNow, expressing confidence in its potential to become a cornerstone of data security strategies.
Moving forward, Cyera plans to leverage the latest funding to enhance its offerings and deliver a comprehensive data security platform that meets the evolving needs of enterprise customers. With headquarters in New York and roots in Israel, Cyera is poised to continue its trajectory as a leader in AI-driven data security solutions.
The Series C funding, totaling $300 million, brings Cyera's total raised capital to $460 million within just three years. As organizations increasingly prioritize data protection in the age of AI, Cyera stands at the forefront, offering innovative solutions to safeguard valuable assets and mitigate cyber risks.
