Cyera, the data security company recently announced a $100 million Series B investment led by Accel with participation from existing investors Sequoia and Cyberstarts. And Redpoint Ventures also joined as an investor. This funding brings the company’s total to $160 million after emerging from stealth in March of 2022. In the last year, Cyera has gained significant traction among S&P 500 companies, growing revenue by 800%, as security teams prioritize data security across their hybrid cloud environments.
Data is known as the most important asset that a business has. And the rush to adopt generative AI such as ChatGPT is forcing enterprises to grapple with opposing forces of innovation, and security and privacy risks. And as the news cycle highlights, those risks are real.
Breaches, ransomware, and regulatory fines are a part of daily lives. And this has led governments, business leaders, and regulators to impose bans and stricter regulations in an effort to protect user privacy and intellectual property. Cyera provides the foundational capability to enable enterprises to harness the power of their data.
The ability to utilize data for day-to-day activities improves decision-making and drives better innovation, collaboration, and communication. And with deep insight into the data they have and the confidence that their data is secure, Cyera is enabling enterprises to leverage data to create truly differentiated customer and employee experiences.
Enabling the business to utilize data while preventing breaches is a top priority for CxOs and boards across industries. But data security has long relied on legacy architectures and outdated approaches that were developed to protect data on-premises. Plus Cyera has built an AI-powered data security platform that is revolutionizing data security for the cloud era. This new approach moves from a highly manual process of matching patterns and blocking access, to harnessing artificial intelligence and machine learning to automatically learn and holistically protect a company’s unique data.
The company’s AI-powered data security platform learns an enterprise’s unique data and its business purpose, empowering security teams to understand the data they have, and how it is used, and apply the correct controls to secure it. And Cyera provides holistic data security across SaaS, PaaS, and IaaS environments. Using Cyera, security teams always understand where their data is, who can access it, how it is secured and managed, and the exposures that increase their risk across domains and platforms. From there, Cyera automates remediation workflows to reduce the attack surface and ensure operational resilience at the speed and scale of the cloud.
Cyera’s platform utilizes large language models to automatically discover, classify, and secure sensitive data, everywhere. And the platform’s unified policy engine identifies misconfigurations, recommends specific access controls, and generates new policies for data security, to assure compliance, and to govern sensitive data access. With the additional capital, Cyera is going to accelerate the development of its cloud-native operational platform, empowering security teams to manage all of their data security incidents, policies, controls, and workflows across the data landscape.
Cyera was recognized for its innovative approach to data security winning a number of industry awards including the 2022 CISO Choice Award for Data Security, Best Enterprise Data Loss Prevention (DLP) Solution, and 2023 Data Security Platform of the Year. And this new investment will enable Cyera to accelerate the development of its data security platform and global go-to-market initiatives.
KEY QUOTES:
“Cyera’s AI-powered data security platform is enabling us to infuse data literacy into our cloud development and security strategy.”
— Michael Kiethley, Chief Information Officer at United Talent Agency
“Cyera is accelerating our efforts to improve cyber resilience, and the deep context and unprecedented insight it provides into our data allows us to better align with business stakeholders and partners.”
— Arjun Thusu, Chief Information Officer at Mercury Financial
“Cyera’s vision is to enable every business to realize the full potential of their data using AI — collaboration, connection with customers, insights that fuel innovation — to power a new era of development, growth, and productivity. This investment confirms that Cyera is on the right path to help CISOs meet their most pressing challenge — securing their data in the cloud era.”
— Yotam Segev, Cyera Co-Founder and CEO
“Cyera far exceeds the capabilities of other vendors in this space, already capitalizing on technologies like generative AI and natural language processing. This team is an innovation powerhouse adept at building impactful technology that protects critical data assets and is well aligned with its customers to address the data security issues that keep CISOs up at night.”
— Philippe Botteri, Accel
