Israeli data security co Cyera raises $300m at $3b valuation

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Cyera has more than doubled its valuation since its most recent financing round in April 2024, when it also raised $300 million.

Israeli cybersecurity company Cyera has announced the completion of a $300 million Series D financing round at a company valuation of $3 billion. The round was led by Accel and Sapphire Ventures, with additional participation from Sequoia, Redpoint, Coatue, and Georgian.

Cyera has more than doubled its valuation since its most recent financing round in April 2024 when it also raised $300 million at a company valuation of $1.4 billion. Since its founding in 2021, Cyera has now raised $760 million, including this latest financing round.

Last month Cyera acquired Trail Security, an early stage Israeli database protection startup that was in stealth, for $162 million. Trail's 35 employees joined Cyera's workforce of 400, half of whom are in Israel. The company plans hiring 200 more employees by the end of the year.

Cyera was founded by CEO Yotam Segev, and CTO Tamar Bar-Ilan, who served together in the IDF’s Unit 8200 where they founded, built, and ran the cloud security division. The company has developed an agentless, cloud-native platform, which can be deployed in minutes and uses native APIs to continuously discover, classify, and secure sensitive data.

Segev said, "Data security has become the top priority for businesses as they navigate the complexities of a rapidly evolving data landscape shaped by the rise of AI. This funding enables us to continue accelerating platform development, attracting world-class talent in R&D, sales, and marketing, and strategically acquiring solutions that align with our vision for the future of data security."

Published by Globes, Israel business news - en.globes.co.il - on November 20, 2024.

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