Data security firm Cyera raises $600 million at $12 billion valuation

Data security firm Cyera said on Wednesday it has raised $600 million at a $12 billion valuation in a late-stage funding round, quadrupling its valuation from more than a year ago.

The ‌jump underscores ⁠rising ⁠investor interest in data security businesses as cybersecurity threats increase alongside the rapid adoption of generative AI technologies.

The funding round was led by Evolution Equity Partners, with participation from Singapore state investor Temasek ⁠and Israeli ‌venture capital fund Cyberstarts, Cyera said.


Existing investors including Accel, AT&T ⁠Ventures, Blackstone and Coatue also took part in the round, the company added.

Cyera said it has tripled its annual recurring revenue for three straight years, expanded its workforce to 1,500 employees across 18 countries and acquired ‌five companies in the last 18 months.

Cyera's software helps companies ​identify, classify ​and protect ⁠sensitive data across cloud and on-premise systems, helping them monitor risks and comply with regulations.

​In January, Cyera raised $400 million at a $9 billion valuation, proceeds from which were earmarked for product development, global expansion and partnerships.