Cyber startup Cyera targeting over $200 million in funding at $1.5 billion valuation
Cyber startup Cyera targeting over $200 million in funding at $1.5 billion valuation
The Israeli data security company is set to triple its valuation from its $100 million Series B last June
Data security startup Cyera is close to closing a new funding round that would see its valuation triple to over $1.5 billion, according to Business Insider. The Israeli company is expected to raise at least $200 million in the round, Calcalist has learned.
Cyera announced a $100 million Series B last June led by Accel with participation from existing investors Sequoia and Cyberstarts. Redpoint Ventures also joined as an investor. That brought the company’s total funding to $160 million. Cyera was valued at $500 million in the Series B, more than double its valuation in its $56 million Series A in March 2022.
Cyera was co-founded in 2021 by CEO Yotam Segev and CTO Tamar Bar-Ilan. The two met over a decade ago in the Israeli Defense Forces’ (IDF) elite Talpiot leadership academy and served together in the IDF’s Unit 8200 where they founded, built, and ran the cloud security division.
Cyera's AI-powered data security platform learns an enterprise’s unique data and business purpose, helping security teams to understand the data they have, how it is used, and apply the correct controls to secure it. Cyera provides data security across SaaS, PaaS, and IaaS environments and automates remediation workflows to reduce the attack surface and ensure operational resilience at the speed and scale of the cloud.
