Cyera raises $300M at $12B valuation, doubling its worth in five months

Artificial intelligence and data security company Cyera Ltd. has raised $300 million in new funding at a valuation of $12 billion, more than doubling its worth in five months.

Founded in 2021, Cyera’s platform scans cloud accounts, data stores and software-as-a-service applications and maps where a company keeps sensitive information. It then classifies that data by sensitivity and flags where it is exposed. The aim is to let enterprises feed data to AI tools while still tracking who can reach it.

The company operates in a category known as data security posture management, one where investor interest has climbed as breaches increasingly trace back to data companies did not know they had.

The company pitches itself as a consolidator in that market. Chief Executive Yotam Segev told Calcalist in an April interview that Cyera aims to become “the CrowdStrike or Palo Alto Networks of data security,” building a broad platform through acquisition rather than a single point product. That ambition has driven a string of deals adding capabilities in data access governance, classification and AI security.

Cyera was founded by Segev and Chief Technology Officer Tamar Bar-Ilan, both graduates of Israel’s Talpiot program and the military’s Unit 8200 intelligence and cyber unit. In the same interview, Segev credited the company’s rise to the speed of enterprise AI adoption.

“We didn’t plan to become the security company leading the AI revolution,” Segev said. “We came to catch the waves, and we caught the biggest wave that has ever arrived. We only had to decide where to place the surfboard.”

The funding comes amid a buying spree by the company. Last month, Cyera acquired Israeli startup Genie Security for an estimated $50 million, a month after picking up fellow Israeli startup Ryft Data Inc. for a reported $100 million to $130 million. Those deals followed the $162 million purchase of Trail Security Ltd. in 2024, along with acquisitions of Otterize Inc. and Shape AI. The Ryft deal added an AI-ready data lake aimed at giving enterprises traceable data access for AI agents.

The company was valued at $9 billion in January, when it raised $400 million. Late last year it raised $540 million at a $6 billion valuation. The new round makes Cyera the second-most valuable privately held Israeli company. Only Vast Data Inc., valued at $30 billion earlier this year, ranks higher. Networking firm DriveNets Ltd. closed a round this week at $8.5 billion, according to Ynet News.

The round was led by Evolution Equity Partners, one of the most active investors in Israeli cybersecurity, with a portfolio that has included Island Technology Ltd., Torq Ltd. and Armis Inc., the last of which was sold to ServiceNow Inc. Other backers include Georgian, Greenoaks, Lightspeed Venture Partners, Sequoia Capital, Sapphire Ventures, Redpoint Ventures, Cyberstarts Ltd., Coatue, Accel and Spark Capital.

The new investment brings Cyera’s total funding to more than $1.6 billion. Bar-Ilan said the company’s investors expect far more growth to come.

“They believe Cyera will be a company worth tens of billions of dollars within the next three to four years,” said Bar-Ilan. “What excites us is the possibility of building such a giant Israeli company.”

Photo: Cyera