Israeli data security company Cyera announced Wednesday that it has secured a $100 million Series B investment led by Accel with participation from existing investors Sequoia and Cyberstarts.
Redpoint Ventures also joined as an investor.
The new funding brings the company’s total funding to $160 million since emerging from stealth in March of 2022.
In the past year, Cyera has gained significant traction among S&P 500 enterprises, growing revenue by 800 percent, as security teams prioritize data security across their hybrid cloud environments.
The rush to adopt generative AI, like ChatGPT, is forcing enterprises to grapple with opposing forces of innovation, and security and privacy risks, the company noted in its announcement.
Enabling a business to leverage data while preventing breaches are top priorities for CEOs and boards across industries. However, data security has long relied on legacy architectures and outdated approaches that were developed to protect data on premises.
Cyera provides an AI-powered data security platform that 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.
“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,” said Yotam Segev, Cyera Co-Founder and CEO. “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.”
Cyera has won 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.
The new investment will enable Cyera to accelerate the development of its data security platform and global go-to-market initiatives, the company said.