Cyera, an AI-powered data security platform, has raised $300 million in a Series C funding round that values the company at $1.4 billion. The round was led by Coatue Management and nearly triples Cyera’s valuation from its $100 million Series B raised less than a year ago.
Founded in 2020 by Yotam Segev and Tamar Bar-Ilan, Cyera uses artificial intelligence to map out an organization’s data landscape, identifying where data is created, stored, and used across hybrid environments spanning apps, devices, clouds and on-premises servers. This comprehensive data posture management is crucial for securing data and keeping sensitive information from being leaked or compromised.
Cyera’s customer base includes many large multinational corporations, though it did not disclose specific names. Segev said Cyera frequently receives calls from Chief Information Security Officers needing to urgently scan their environments following a data breach or security incident. The platform helps organizations understand what data was involved to properly respond.
The data security market is crowded with competitors like CrowdStrike, Zscaler, and Palo Alto Networks also offering posture management solutions. However, Cyera differentiates by leveraging AI to handle the complex task of mapping out sprawling data ecosystems across today’s enterprises. With total data volumes exploding to hundreds of zetabytes in the coming years, traditional approaches no longer suffice.
Cyera sees artificial intelligence as posing both great opportunities and risks for data security. As AI models require vast amounts of proprietary data to train, companies must gain full visibility and control over their data assets. Yet without knowing where all data resides, duplicates exist, and the single source of truth is located, leveraging AI safely becomes impossible.
This view resonated with investors, who see Cyera positioned at the forefront of securing next-generation applications powered by artificial intelligence. Returning backers Sequoia Capital, Accel, Redpoint Ventures, and Cyberstarts participated in the Series C alongside new investors Coatue Management, Spark Capital, and Georgian.
Coatue partner David Schneider likened Cyera’s potential to the early days of ServiceNow in becoming integral enterprise infrastructure for data security. Sequoia’s Doug Leone, who remains on Cyera’s board, praised the co-founders’ vision and execution in addressing enterprises’ growing data awareness and needs.
The $300 million round provides Cyera ample capital to expand its platform offerings. CEO Segev aims to deliver a unified data security solution rather than forcing customers to piece together multiple products. As artificial intelligence continues transforming business while also introducing new risks, Cyera looks well positioned to help organizations navigate related data challenges through its AI-powered approach.