2 days Ago
Israeli cybersecurity company Cyera has announced the completion of a $300 million Series D funding round at a company valuation of $3 billion. The current fundraising campaign was led by the Accel and Sapphire Ventures hedge funds, with participation from various existing investors, including Sequoia Coatue, Redpoint and Georgian. 1 View gallery Yotam Segev and Tamar Bar-Ilan ( Photo: Menash Cohen ) The cyber unicorn raised $300 million at a valuation of $1.
4 billion in its previous funding round in April. Cyera was founded in 2021 by Yotam Segev, who serves as CEO, and Tamar Bar-Ilan, who serves as CTO—both ex-IDF intelligence officers. Cyera has developed an artificial intelligence-based information security platform designed to provide real-time insights into organizational data, empowering security teams to identify and manage sensitive information.
The platform enables users to track where sensitive data resides, determine who has access, assess its security status and detect potential vulnerabilities to mitigate risks. By automating the remediation process, Cyera reduces the attack surface with cloud-based technology, eliminating the need for customer effort or prior knowledge of the data being secured. With the global data security market valued at approximately $23.
7 billion, Cyera has raised a total of $760 million since its founding. While most of the funds will go toward company operations, a smaller portion is allocated for purchasing employee and founder shares. The company employs about 400 people, half in its Tel Aviv offices and the rest in New York.
The CEO said he intends to recruit about 200 additional employees by the end of 2025, whereas in Israel the company will recruit development personnel, cyber experts and engineers. "In Israel, we will hire as many employees as possible, over 100 in the coming year at the minimum," Segev told Calcalist. Segev also said that "the timing of the fundraising was dictated by investors.
Accel came up with a very nice offer together with Sapphire Ventures. Since the previous round, the company has doubled its revenues, and we will reach $100 million in the second half of next year. We have added over 50 new customers, many of them big customers.
" The company recently purchased the Israeli start-up Trail Security, which operates in the field of data loss prevention (DLP), for $162 million. "We are going to be the CrowdStrike of information security, with billions in revenue, and that's where the acquisition of Trail takes us," Segev said. "That's why more resources are being put into the company, our platform needs a lot of development, engineers and software to reach the vision.
We are very happy with the vision to be able to allocate the resources and allow us to make purchases that may expand the company faster," he added. In April, Segev told Calcalist that he does not plan to sell the company soon: "The cyber market needs to recalibrate its size and strength. It is a market in which there are only two players that are huge and deal with cyber: Palo Alto and CrowdStrike.
In the past, we thought that a $10 billion cyber company made it huge and today it's just another company." Cyera’s platform addresses a critical challenge in the cloud computing era: the dispersion and lack of visibility over organizational data. Many companies today struggle to identify where their data is stored—especially their most sensitive information—and how it is protected.
In recent years, data has become a primary growth driver for the world’s leading companies, spawning roles such as data scientists and engineers. With more employees focused on analyzing and leveraging data for competitive advantages, information is now spread across countless platforms, predominantly in the cloud, which has become the preferred environment for storing and processing vast quantities of information. However, this shift has created significant security challenges.
Organizations and cloud security firms often lack the tools to track sensitive data within sprawling cloud environments, identify where it resides and monitor who has access. The problem has intensified as the near-unlimited storage capacity of the cloud allows companies to amass data on a scale previously unimaginable. The rapid growth and movement of information within cloud ecosystems, coupled with the vast array of storage technologies, make control and security increasingly complex.
Security teams frequently find it difficult to master the many technologies involved, creating vulnerabilities that Cyera’s solution aims to mitigate. Get the Ynetnews app on your smartphone: Google Play : https://bit.ly/4eJ37pE | Apple App Store : https://bit.
ly/3ZL7iNv >.
