Cyber startup Cyera raising hundreds of millions at over $6 billion valuation
Israeli startup continues meteoric rise with new mega round less than a year after raising $300M at $3B valuation.
Israeli cyber unicorn Cyera is raising hundreds of millions of dollars at a valuation of at least $6 billion, Calcalist has learned. In its most recent funding round last November, a $300 million Series D, the company was valued at $3 billion.
That round was led by Accel and Sapphire Ventures, with participation from existing investors including Sequoia, Coatue, Redpoint, and Georgian.
Since its founding in 2021, Cyera has raised approximately $760 million in total, prior to the current round.
The company was founded by Yotam Segev, who serves as CEO, and Tamar Bar-Ilan, the CTO. Both Segev and Bar-Ilan are graduates of the IDF’s Talpiot program and Unit 8200.
Cyera’s platform, powered by 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.
Cyera’s impressive growth is further underscored by last October's acquisition of Trail Security, an Israeli data loss protection (DLP) company, for $162 million. The acquisition enhanced Cyera’s Data Security Posture Management (DSPM) solution and added top-tier product and engineering talent from elite leadership programs like the Israel Ministry of Defence’s Talpiot to the Cyera team.
“AI for us is core to what we do on both sides of the fence. So we use AI in order to create this visibility and understanding of data at scale,” explained Segev in an interview with CTech in March. “If you think about it, take a 50-page document, stick it into ChatGPT, and ask it what the document is about. It's going to do a pretty good job. The problem is that the cost of that doesn't scale. If you try to do that to every document that the Fortune 500 company has, it's going to cost you a few $100 million. So we have to find ways to leverage AI more efficiently, and the usage of AI to the specific use cases that the companies are trying to solve.”
Cyera announced last month a series of appointments, including Sol Rashidi as Chief Strategy Officer for Data and AI.
