In an effort to transform how businesses handle cloud data protection, data security startup Cyera has raised $300 million in series C funding, increasing its valuation to $1.4 billion.
Cyera, a 2021 startup, created a data security platform driven by AI that gives businesses data insights to strengthen their cybersecurity defenses.
At&T Ventures and Spark Capital joined previous investors Accel, Redpoint, and Sequoia in the round managed by investment company Coatue Management.
With this round, Cyera has raised $460 million in total capital. The extra capital will be utilized to enhance the platform, according to Yotam Segev, CEO and co-founder of Cyera.
Businesses may monitor both structured and unstructured data in cloud data repositories with Cyera’s technology. It enables customers to categorize and evaluate assets across all of their data, including environments that provide software as a service, such as Google Workspace.
The software continuously scans environments for possible security vulnerabilities and uses artificial intelligence (AI) and machine learning to identify and classify sensitive data automatically.
David Schneider, general partner at Coatue, remarked, “The customer’s reactions to Cyera as a platform remind me of our early days at ServiceNow,” “I am confident that Cyera will grow to become a key part of enterprise’s data security, which is so crucial with the advent of AI.”
The startup has offices in Tel Aviv, Israel, and New York. With 200 employees, it employs software engineers, machine learning and AI developers, and cybersecurity experts.
Jason Clark, a former Netskope chief security officer and chief strategy officer, has been appointed as Cyera’s new chief strategy officer, in addition to the new funding.
