XAI seeks up to $200bn valuation in next fundraising: FT

XAI seeks up to $200bn valuation in next fundraising: FT

Cyera, a leader in data security, has announced a significant $300 million Series D funding round, bringing its valuation to $3 billion. The round was led by Accel and Sapphire Ventures, with additional participation from Sequoia, Redpoint, Coatue, and Georgian. This latest investment follows a $300 million Series C round earlier this year, and Cyera's total funding since its founding in 2021 now stands at $760 million [1].

The funding will accelerate the development of Cyera's AI-driven data security platform, enabling the company to attract top talent and strategically acquire solutions that align with its vision for the future of data security. Cyera's platform, powered by cutting-edge AI and machine learning, helps organizations continuously discover, classify, and protect their data across multiple environments, including cloud, SaaS, and on-premises systems [1].

Cyera's impressive growth is further underscored by its October acquisition of Trail Security, a next-gen data loss protection (DLP) company, for $162 million. The acquisition significantly enhances Cyera’s Data Security Posture Management (DSPM) solution and adds top-tier product and engineering talent to the company [1].

The investment from Accel and Sapphire Ventures highlights the growing importance of data security as AI adoption continues to skyrocket across industries. "This is the third round that Accel leads as Cyera continues to reinvent enterprise data security," said Philippe Botteri, Partner at Accel. "Their initial DSPM product has now become a data security platform, including new capabilities like identity access and DLP" [1].

Cyera's platform offers real-time visibility into sensitive data access and automated policies that dynamically adjust as data environments grow. This capability sets Cyera apart from competitors, providing a level of speed, scale, and precision unmatched by any other solution in the market [1].

With this latest funding, Cyera is poised to expand its product capabilities, accelerate innovation, and continue delivering cutting-edge solutions that meet the evolving cybersecurity needs of its customers. The company's mission is to help enterprises safely harness the power of data in today's complex digital landscape [1].

References:
[1] https://www.businesswire.com/news/home/20241120065588/en/Data-Security-Leader-Cyera-Secures-%24300-Million-in-Series-D-Funding-Reaching-a-%243-Billion-Valuation