Cyberhaven, a leader in data detection and response (DDR), announced it has raised $88 million in Series C funding led by Adams Street Partners and Khosla Ventures, with significant participation from existing investors Redpoint Ventures, Costanoa Ventures, Vertex Ventures, Crane Venture Partners, and Wing Venture Capital. Prominent security leaders such as Amol Kulkarni (former CPO at CrowdStrike), Gerhard Eschelbeck (former CISO at Google), Ash Devata (former GM of Duo at Cisco), and others also participated.
This funding round emphasizes a breakout year for the company, marked by 200% growth in new bookings. As part of this funding, Fred Wang, Partner at Adams Street, will join Cyberhaven’s board of directors.
Data is every organization’s most valuable asset, but it is the most vulnerable. And Cyberhaven protects the IP that traditional data loss prevention (DLP), insider risk, and data security posture management (DSPM) tools fail to identify and secure such as source code, product designs, and customer records.
With its data lineage technology and foundational AI model that understands not only content but also context, Cyberhaven is uniquely able to classify any sensitive information, understand when it is at risk, and take action to protect it.
Cyberhaven’s platform protects data as it moves between clouds, devices, web, email, messaging, and generative AI tools. And organizations recognize that in the AI economy their data is the key to winning their markets and unlocking immense value. But to fully realize that potential, they must understand their data like never before, including its origins and how it is used over time.
With this funding, Cyberhaven plans to expand its product offerings, increase its market reach, and continue its mission to protect the world’s most sensitive data.
KEY QUOTES:
“Cyberhaven is addressing some of the most pressing challenges in data security today, particularly protecting IP from insider threats. Their innovative approach to tracking data lineage and applying AI to understand data and risk is transformative. We believe Cyberhaven is setting a new standard in the industry and are excited to support their continued growth and innovation.”
- Fred Wang of Adams Street
“AI introduces new data security risks, from the dangers of ‘shadow AI’ where employees input confidential data into prompts for AI services, to the generation of malicious or inaccurate AI content used in business-critical areas. Cyberhaven’s technology addresses these new threat vectors with their unique approach to data lineage, making it an essential solution for CISOs of the most innovative companies in the world.”
- Ethan Choi, Partner at Khosla Ventures
“We are thrilled to welcome Adams Street and Khosla Ventures to our mission of protecting the world’s top innovators, who are increasingly dependent on AI and data. Our groundbreaking data lineage technology has elevated the efficacy of our customers’ DLP and insider risk programs but we’re just getting started. This funding will enable us to rapidly expand our platform and grow the DDR category.”
- Howard Ting, CEO of Cyberhaven
