Cyera hits Unicorn status with $300M Series C at $1.4 billion valuation
The company raised a total of $460 million in just three years.
In a remarkable achievement, Cyera, the Israeli data security company, has joined the coveted unicorn club, securing an impressive $300 million in Series C funding. This funding round, led by Coatue, a prominent technology investment firm, signifies a significant milestone in Cyera's journey, solidifying its position as a major player in the cybersecurity domain.
Joining Coatue in this financing round are notable newcomers Spark Capital, Georgian, and AT&T Ventures, alongside existing investors Sequoia, Accel, Redpoint, and Cyberstarts, reaffirming investor confidence in Cyera's vision and potential.
With a valuation now standing at $1.4 billion, Cyera has become the latest addition to Israel's roster of unicorns, marking a remarkable ascent since its founding in 2021 by Yotam Segev and Tamar Bar-Ilan. Despite being headquartered in New York, Cyera proudly maintains its roots in Israel, reflecting the global nature of its operations and innovations.
Cyera's success can be attributed in large part to its innovative Data Security Posture Management (DSPM) system, which adopts an agentless approach to discover, classify, assess, and protect both structured and unstructured data across various environments, including clouds, SaaS, data lakes, and on-premises setups.
Simply put, Cyera has developed a platform that conducts a comprehensive assessment of an organization's data, tracking its origin, storage locations, and usage.
As the adoption of artificial intelligence accelerates, data has become the lifeblood and most critical asset of modern enterprises, making robust data security solutions like Cyera's DSPM indispensable. With its advanced technology, Cyera addresses the pressing need to safeguard data, which has increasingly become the primary target for malicious actors.
The $300 million Series C funding not only underscores investor confidence but also highlights Cyera's rapid growth trajectory, having raised a total of $460 million in just three years. This substantial investment reflects the industry's recognition of Cyera's innovative approach and its ability to address the evolving cybersecurity challenges faced by businesses worldwide.
