Israeli cybersecurity company white The company announced the completion of a $300 million Series D financing round at a company valuation of $3 billion. The round was led by Accel and Sapphire Ventures, with additional participation from Sequoia, Redpoint, Coatue, and Georgian.
Cyera has more than doubled its valuation since its last funding round in April 2024 when it also raised $300 million at a company valuation of $1.4 billion. Since its founding in 2021, Cyera has now raised $760 million, including this latest funding round.
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Last month, Cyera acquired Trail Security, an early-stage and secretive Israeli database protection startup, for $162 million. Trail’s 35 employees have joined Cyera’s workforce of 400, half of them in Israel. The company plans to hire an additional 200 employees by the end of the year.
Cyera was founded by CEO Yotam Segev and CTO Tamar Bar-Ilan, who served together in the IDF’s Unit 8200 where they founded, built and managed the cloud security division. The company has developed an agentless, cloud-native platform that can be deployed in minutes and uses native APIs to continuously discover, classify, and secure sensitive data.
“Data security has become a top priority for companies as they deal with the complexities of the rapidly evolving data landscape shaped by the emergence of artificial intelligence,” said Segev. “This funding enables us to further accelerate development of the platform, attract world-class talent in R&D, sales, marketing, and strategically source solutions.” Which aligns with our vision for the future of data security.”
Published by Globes, Israel Business News – en.globes.co.il – on November 20, 2024.
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