Data Security Startup Cyera Gets $100 Million in New Funding

Cyera will use the funding to improve tooling and automation for partners.

Edward Gately, Senior News Editor

June 28, 2023

3 Min Read
Data Security Startup Cyera Gets $100 Million in New Funding

Cyera, a data security startup, has received a $100 million Series B investment led by Accel, with participation from existing investors Sequoia and Cyberstarts.

Redpoint Ventures also joined as an investor. This brings the data security startup’s total funding to $160 million since emerging from stealth in March 2022.

In the past year, Cyera has gained significant traction among S&P 500 enterprises, growing revenue by 800%, as security teams prioritize data security across their hybrid cloud environments.

Yotam Segev, Cyera’s co-founder and CEO, said his company will put the additional capital investment to immediate use in order to improve tooling and automation for partners.


Cyera’s Yotam Segev

“Enabling solution integrators and VARs to leverage Cyera in order to conduct data risk assessments, produce datastore and sensitive data inventories, help partners architect and implement effective zero trust architectures, and to have the power of Cyera’s artificial intelligence (AI)-powered platform in order to conduct vulnerability assessments and incident response as part of an MSSP relationship are integral to Cyera’s growth plans,” he said.

Cyera’s Data Security Platform

Cyera’s AI-powered data security platform instantly learns an enterprise’s unique data and its business purpose, allowing security teams to understand the data they have, how it is used, and apply the correct controls to secure it. Cyera provides holistic data security across SaaS, PaaS and IaaS environments.

Cyera’s platform uses large language models to discover, classify and secure sensitive data everywhere. 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.

“The partner ecosystem represents both an important route to market, and a means of establishing Cyera as a foundational architectural component in any zero-trust architecture, defense-in-depth strategy, and cloud migration and maturity plan,” Segev said. “Whether a cloud platform, technology alliance, VAR or solutions integrator, Cyera plans to interact across the ecosystem to integrate into an enterprise’s security architecture, providing critical visibility and insight, and integrating with existing toolchain components to apply effective security controls and govern data access and use.”

Investment will Accelerate Cyera’s Leadership

The investment will accelerate Cyera‘s existing leadership position relative to other data security solutions in the market, Segev said.

“The AI-powered platform has already extended beyond the narrow focus of other data security posture management (DSPM) startups, and has an existing architectural advantage over the legacy, architecturally flawed approaches that incumbent solutions take,” he said. “This investment will allow Cyera to invest in the data scientists, developers and user experience (UX) experts that will help to expand upon the platform’s use of AI and machine learning (ML), and to build even more effective and intuitive workflows, processes, dashboards and reports into the architecture, which will provide value across an enterprise.”

In the months ahead, partners can expect to see the company publish more industry-centric use cases, support additional security, privacy and compliance frameworks, and develop additional solutions for data access governance, anomaly detection and broader environment support, Segev said.

“Cyera far exceeds the capabilities of other vendors in this space, already capitalizing on technologies like generative AI and natural language processing (NLP),” said Accel partner Philippe Botteri. “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.”

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About the Author(s)

Edward Gately

Senior News Editor, Channel Futures

As news editor, Edward Gately covers cybersecurity, new channel programs and program changes, M&A and other IT channel trends. Prior to Informa, he spent 26 years as a newspaper journalist in Texas, Louisiana and Arizona.

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