Data security startup Cyera hits $9 billion valuation six months after being valued at $6 billion
Data security startup Cyera continues to grow. On Thursday, it announced a $400 million Series F funding round at a valuation of $9 billion. The New York-based company has now raised more than $1.7 billion. This funding comes just six months after the previous round of $540 million, valued at $6 billion.
The new round was led by funds managed by Blackstone with participation from existing investors including Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia and others.
Cyera offers what it calls data security management, a service that helps businesses determine where all of their sensitive data is located in cloud systems and databases, track how employees and applications use it, and identify security vulnerabilities. The rise of AI — which has increased both the volume of data companies process and concerns about data leaks — has helped Cyera sign up a fifth of Fortune 500 companies as customers and more than triple its revenue in the past year, the company said, prompting investors to eagerly jump on board.
