Data security startup Cyera continues to grow rapidly and has now reached a $9 billion valuation. This makes it one of the most valuable companies in the data security industry.
On Thursday the New York–based company said it raised $400 million in a Series F funding round. This comes just six months after Cyera raised $540 million at a $6 billion valuation. The quick rise shows strong investor confidence in the company. With this new round the company has raised more than $1.7 billion in total funding.
The Series F round was led by funds managed by Blackstone. Other existing investors also joined the round. They include Accel, Coatue, Lightspeed, Redpoint, Sapphire and Sequoia. These investors continue to support Cyera as it grows.
Cyera focuses on data security posture management. This technology helps companies see and protect their sensitive data. The platform shows businesses where their data is stored across cloud platforms and databases. It also shows how employees and applications access data and points out potential security risks.
The growth of artificial intelligence has played a big role in Cyera’s success. As companies use more AI tools they handle more data than before. At the same time concerns about data leaks and misuse are increasing. This has led organizations to spend more on data security.
Cyera says around 20 percent of Fortune 500 companies are now its customers. The company also said its revenue more than tripled over the past year. With growing customers rising revenue and strong investor support Cyera is becoming an important player in protecting business data in the age of AI.
