Home / Business and Economy / Cyera Nears $300M Raise at $12B Valuation
Cyera Nears $300M Raise at $12B Valuation
3 Jun
Summary
- Cyera is finalizing a funding round of at least $300 million.
- The data storage security company is valued at $12 billion.
- This potential round follows a $400 million raise just five months prior.
Data storage security company Cyera is reportedly nearing the finalization of a substantial funding round, expected to be at least $300 million, with a valuation of $12 billion. This news comes just five months after the company announced raising $400 million in a Series F round at a $9 billion valuation.
Sources indicate Cyera has surpassed $150 million in annual recurring revenue (ARR), though it remains unprofitable. The company's valuation is noted as being significantly higher than many fast-growing AI startups. Recent strategic moves include acquisitions of cybersecurity firms like Ryft and Genie Security, alongside significant hiring in sales.
Founded in 2021, Cyera's platform helps enterprises safeguard data, especially against AI-driven threats. The company claimed in its last funding announcement that its customers included one-fifth of the Fortune 500. This new capital infusion would bring Cyera's total funding to at least $2 billion.
