Cyera Secures $540 Million to Enhance AI Data Security Platform

Cyera Secures $540 Million to Enhance AI Data Security Platform

Cyera has raised $540 million in a Series E funding round, doubling its valuation to $6 billion, according to Reuters. The funds will be used to expand its AI-powered data security platform.

Cyera has raised $540 million in a Series E funding round, doubling its valuation to $6 billion, according to Reuters. The Israeli data security firm plans to use the funds to expand and scale its AI-powered data security platform.

The funding round was led by Georgian, Greenoaks, and Lightspeed Venture Partners, with participation from existing investors such as Accel, Coatue, and Sequoia Capital. This latest investment brings Cyera's total funding to over $1.3 billion.

Cyera's platform offers comprehensive data security solutions, including data discovery, classification, and security across cloud, SaaS, and on-premises environments. The company aims to enhance its product offerings and expand its global operations, which currently span 10 countries with nearly 800 employees.

The company has experienced significant growth, with a 353% increase in Fortune 500 clients over the past 18 months. This funding will support Cyera's efforts to meet the growing demand for secure AI adoption in enterprises.

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