Cyera, headquartered in San Mateo with roots in Israel, had previously raised a total of $160 million. The company is focusing on the challenges posed by AI in data protection, particularly as more organizations integrate AI services into their networks. The startup initially focused on providing tools for data classification, posture management, detection and response, and access governance, but has recently seen a shift in customer demand towards tracking automation within networks.
Key takeaways:
- Cybersecurity startup Cyera is close to finalizing a funding round of nearly $300 million, tripling its valuation to $1.5 billion. The round is led by venture firm Coatue.
- Cyera builds AI-enhanced tools to create accurate pictures of where and how data is being used in organizations’ networks. The company believes AI will be the next big challenge in enterprise data protection.
- Despite wider pressures in the technology economy and the venture market, cybersecurity continues to attract business, investors and big checks. This is highlighted by the latest investment in Cyera.
- Cyera is also addressing the risks posed by AI. Companies interacting with AI services like chatbots or generative AI applications run the risk of breaching their own internal intellectual property and data protection policies.