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Data Security Startup Cyera More Than Doubles Value To $3B In Seven Months

Nov 20, 2024 - news.crunchbase.com
Data security startup Cyera has raised $300 million in a Series D funding round, led by Accel and Sapphire Ventures, at a $3 billion valuation. This comes just seven months after the New York-based company raised $300 million in a Series C round at a $1.4 billion valuation. To date, Cyera, which was founded in 2021, has raised $760 million. The company's AI-powered data security platform helps businesses understand and secure their data across a complex digital landscape.

The latest funding round, which also saw participation from Sequoia Capital, Redpoint Ventures, Coatue, and Georgian, will be used to accelerate platform development, attract talent in R&D, sales, and marketing, and strategically acquire solutions that align with Cyera's vision for the future of data security. This round is one of the largest in the cyber sector this year, following Kiteworks' $456 million round from Insight Partners and Sixth Street.

Key takeaways:

  • Data security startup Cyera raised $300 million in a Series D funding round led by Accel and Sapphire Ventures, bringing its total funding to $760 million.
  • The new funding round valued Cyera at $3 billion, more than twice its previous valuation of $1.4 billion from a Series C round seven months ago.
  • Cyera's platform uses AI to help companies understand and secure their data, and assess risks related to security, privacy, and regulatory compliance.
  • This funding round is one of the largest in the cybersecurity sector this year, following Kiteworks' $456 million round.
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