Cyera raises $600M, $12B valuation

Cyera, a data security firm, has successfully raised $600 million in a late-stage funding round, bringing its valuation to $12 billion. This represents a quadrupling of its valuation from just over a year ago and a substantial increase from its $9 billion valuation in January. The funding round was led by Evolution Equity Partners, with participation from Singapore state investor Temasek and Israeli venture capital fund Cyberstarts, as well as existing investors including Accel-KKR, AT&T Ventures, Blackstone, and Coatue. The surge in investment reflects growing investor interest in data security businesses due to rising cybersecurity threats and the rapid adoption of generative AI technologies. Cyera's software helps companies identify, classify, and protect sensitive data across various systems, aiding in risk monitoring and regulatory compliance. The company, co-founded by Yotam Segev and Tamar Bar-Ilan, has experienced rapid growth, tripling its annual recurring revenue for three consecutive years, expanding its workforce to 1,500 employees across 18 countries, and acquiring five companies in the last 18 months.