Jan 8 (Reuters) – Data security firm Cyera said on Thursday it raised $400 million in a late-stage funding round, with its valuation tripling in little over a year to $9 billion, highlighting the surge in demand for AI-driven data protection tools.
The company was valued at $3 billion in a funding round in November 2024, and that surged to $6 billion at its previous round in June, when it raised $540 million.
The soaring valuation underscores investor appetite for data security companies, whose tools help enterprises protect data as they scale up the use of generative AI across their operations while they face growing cybersecurity threats.
The Series F round, led by funds managed by Blackstone, takes Cyera’s total capital raised to more than $1.7 billion, the company said.
Existing backers, including Accel, Coatue and Lightspeed Venture Partners, also participated in the funding round.
A series of cyberattacks which resulted in data leaks and monetary losses across the globe has driven the surge in demand for advanced digital security services.
Cyera provides software that helps companies find, classify and secure sensitive data across cloud and on-premise systems, allowing them to monitor risks and meet regulatory requirements.
Proceeds from the round will boost product development, global expansion and partnerships, Cyera said.
(Reporting by Arnav Mishra in Bengaluru; Editing by Leroy Leo)
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