Cheers to Our $300 Million Series C Round: Cyera’s Data Security Journey Surges On

Apr 9, 2024
April 9, 2024
Yotam Segev
Cheers to Our $300 Million Series C Round: Cyera’s Data Security Journey Surges On

So much can happen in just three years.

Tamar and I always knew that we wanted to create a platform centered around securing enterprise data. Before we ever wrote a line of code, we met with dozens of CISOs, and in doing so they each described their struggles with a fundamental component of data security -  the knowledge of what data was in their environment, and where it was running. A surprising, yet exciting, revelation.

We realized that for some peculiar reason, the cybersecurity industry had focused on securing everything - BUT data. First it was securing the network, then the identity, then the endpoint, and even the public cloud. Meanwhile, breaches continued, and digital trust between businesses and customers continued to erode away.

We’ve finally reached an inflection point where CISOs, businesses, and boards are tired of the lack of data visibility, protection, and compliance struggles.

This reality set the stage for what would become Cyera - and we set out to build the world’s most intelligent data visibility and protection system.

In just three years since our first line of code, we have made a considerable investment and enormous strides toward solving the data security challenge. We’ve introduced new innovations to the industry, scaled our business, and gained the trust of dozens of enterprises. Today, we take another gargantuan stride forward.

Cyera is incredibly proud to announce that we have raised an additional $300 million in Series C funding, valued at $1.4 billion, bringing our total funding to $460 million. This investment represents a significant endorsement from many of the world’s leading VCs, including Coatue, who led this funding round, along with new investors Spark Capital, Georgian, and AT&T Ventures, as well as existing investors Sequoia, Accel, Redpoint, and Cyberstarts.

To each of them, we are eternally grateful.

The best talent leads to the best results

This endorsement was only possible because we continue to deliver on our promises to our customers and partners. It’s no secret that achieving positive results in this highly competitive cybersecurity market requires a bold perspective, rapid execution, and differentiated solutions.

This is why in March 2022 when we launched with $60 million we used it to attract the best software engineers, AI/ML experts, developers, and cybersecurity researchers in the world. Now, at 200 strong, our team is a melting pot of professional and life experiences that have served as our secret recipe for forming a respectful, collaborative, customer-obsessed team and culture.

In a short time our team at Cyera was the first to:

  • Introduce advanced AI/ML for instant data discovery and classification with 95% accuracy - without an agent
  • Deliver enterprise-wide coverage across SaaS, PaaS, and IaaS environments and on-premises databases and file shares. 
  • Enable fully automated remediation, whether part of an integration workflow or integrated into existing tools - with specific context and recommendations.

Words cannot describe how gratifying it’s been to see our team’s continued innovation and expertise be recognized across the industry. Just recently we made Fast Company's prestigious list of the World's Most Innovative Companies of 2024, and Fortune magazine’s inaugural Fortune 60 list of the top companies in cybersecurity. We’ll be delivering even more industry-leading innovations in the coming weeks and months.

A bright future ahead

This is just the beginning. We know we are fundamentally on the right path to improve enterprise data security. Our list of happy customers proves this. But our endeavor to protect data, the epicenter for every business’ innovation, continues. We will continue to work tirelessly to enable security teams to discover, and control their data - no matter where it resides - and in doing so transform data from a source of enterprise risk - to the lifeblood of business in the Digital Age.

As technology and the sophistication of cyberattacks evolve, rest assured, we will continue to listen to, learn from, and share our knowledge with CISOs, boards, security professionals, and the industry.

We sincerely appreciate your continued support.

Stay with us on this incredible journey!