San Mateo-based data security company Cyera has secured $100 million in Series B funding in a round led by Accel, with participation from existing investors Sequoia, Cyberstarts, and Redpoint Ventures.
The latest funding brings Cyera’s total investment to $160 million, and the company plans to use the funds to expedite the development of its advanced AI-powered data security platform and expand its global go-to-market strategies.
Under the leadership of CEO Yotam Segev, Cyera has been making strides in data security with its cutting-edge platform that employs large language models to automatically discover, classify, and secure sensitive data.
The platform features a unified policy engine that identifies misconfigurations, recommends specific access controls, and generates new policies for data security, ensuring compliance and governance of sensitive data access.
Empowering Security Teams with Deep Data Insights
Cyera’s AI-powered data security platform provides enterprises comprehensive insights into their data and its business purpose. It enables security teams to understand data usage and apply protection controls.
The platform caters to SaaS, PaaS, and IaaS environments, giving security teams a holistic view of their data, its accessibility, and the potential risks it poses across various domains and platforms.
Since emerging from stealth mode in March 2022, Cyera has witnessed remarkable growth, particularly among S&P 500 enterprises.
The company’s revenue has surged 800 percent as businesses prioritize data security in their hybrid cloud environments. As data becomes increasingly recognized as a critical asset for companies, the demand for effective data security solutions like Cyera’s platform continues to grow.
Overcoming Funding Slowdown in Cyber Sector
Despite the recent funding slowdown in the cyber sector, Cyera’s ability to attract significant investment demonstrates the continued interest and value investors see in innovative AI-powered data security platform.
With cyber threats and data breaches on the rise, companies are prioritizing investments in cutting-edge technologies like Cyera’s platform to safeguard their valuable data.
Cyera’s CEO, Yotam Segev, emphasizes the company’s vision to enable businesses to unlock the full potential of their data using AI, leading to enhanced collaboration, customer connection, and data-driven insights that fuel innovation and productivity.
By addressing the most pressing challenge faced by Chief Information Security Officers (CISOs) – securing data in the cloud era – Cyera is poised to make a significant impact in the realm of data security.
Cyera’s latest funding round underscores the growing demand for advanced data security solutions that harness the power of AI to safeguard valuable data.
With its impressive revenue growth and recognition in the industry, Cyera is well-positioned to drive innovation in data security and empower enterprises to protect their data assets in an increasingly interconnected world.
