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AI-native data security firm Cyera raises $540M at $6B valuation
- Cyera Ltd. raises $540 million in late-stage funding, doubling valuation to $6 billion with Series E round led by Georgian, Greenoaks, and Lightspeed Venture Partners.
- The company offers an AI-driven platform for data security, focusing on discovering, classifying, and protecting sensitive data within organizations' systems to address risks in the 'AI era.'
- Cyera's solution includes continuous monitoring of data assets, proactive remediation, compliance maintenance, and risk reduction to prevent data breaches and unauthorized data transfers.
- The company's growth includes a 353% year-over-year increase among Fortune 500 customers, expanding operations to over 10 countries, and growing to over 800 employees worldwide.
- Cyera's acquisition of Israeli data loss prevention company Trail Security Ltd. for $162 million led to the launch of the Omni DLP product for comprehensive data loss protection.
- The global data protection market is projected to grow significantly, with North America dominating and the industry valuation expected to increase from $172 billion in 2025 to $505 billion in 2032.
- Cyberattacks and data breaches are on the rise, with IBM reporting the average cost of a data breach globally at around $4.88 million in 2024.
- Investors see Cyera's focus on data security as crucial for AI adoption, with plans to use the latest funding to grow in strategic markets, develop product offerings, and enhance security capabilities through acquisitions and talent hiring.
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