Cyera offers a platform that assesses an organization's data, where it was created, stored, and used, a significant task given the hybrid environments, various apps, devices, clouds, and on-premises servers most organizations use today. The company is part of the "posture management" category, which includes major players like CrowdStrike, Zscaler, Wiz, Palo Alto Networks, and Fortinet. Cyera's unique approach involves using AI to handle the process and address the challenges posed by the next generation of enterprise applications and use cases for data posture management.
Key takeaways:
- Cyera, a startup that has developed an AI-based platform for data security, has raised $300 million in a Series C funding round, tripling its valuation to $1.4 billion in less than a year.
- The funding round was led by Coatue and included participation from Spark Capital, Georgian, AT&T Ventures, and others.
- Cyera's platform helps organizations understand the location and movement of all data in their network, which is crucial for securing the data and preventing cyberattacks or inadvertent leaks.
- The company plans to use the new investment to expand its offerings and continue developing its data security platform.