By Steven Scheer
JERUSALEM (Reuters) -Israeli data security startup Cyera said on Wednesday it raised $540 million in a late-stage private funding round that doubled its valuation to $6 billion over the past seven months.
Cyera, whose platform is powered by AI, said it would use the funds to grow and scale its data security platform and capabilities.
As enterprises rapidly embrace generative AI, copilots, and foundation models, securing the data that powers those systems has become a top priority, it added.
“Across the board, we’re hearing the need for enterprises to push hard on AI, yet they must move fast without compromising security and control,” said co-founder and CEO Yotam Segev.
“Cyera’s focus on data security is the most critical capability the enterprise needs to adopt AI responsibly.”
The round was led by Georgian, Greenoaks, and Lightspeed Venture Partners, alongside existing investors Accel, Coatue, Cyberstarts, Redpoint, Sapphire, Sequoia Capital and Spark, the company said.
In November, Cyera – founded in 2021 – raised $300 million for a total valuation of $3 billion.
Cyera said that over the past 18 months, it posted 353% growth in Fortune 500 companies, expanded to 10 countries and more than doubled its size to nearly 800 employees globally. In that time it has raised $1.3 billion and its valuation has jumped 12 times.
Last October the company acquired Trail Security for $162 million.
(Reporting by Steven Scheer; Editing by Clarence Fernandez)
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