TL;DR:
- Cyera, an Israeli data security startup, secures $100 million in Series B funding led by Accel.
- The funding will expedite the development of Cyera’s cloud-native operational platform, focusing on data-centric security.
- Cyera’s platform utilizes Generative AI to discover, classify, and secure sensitive data, providing deep insights and enabling secure data harnessing.
- The startup has received industry recognition, winning multiple awards for its innovative approach to data security.
- The total funding raised by Cyera now stands at $160 million, with 800% revenue growth among its S&P 500 enterprise clients.
Main AI News:
In a significant stride towards transforming the landscape of data security, Israeli startup Cyera has successfully raised $100 million in Series B funding. This round of funding was led by Accel, a prominent venture capital firm, with continued participation from Sequoia, Cyberstarts, and Redpoint Ventures. The injection of funds will enable Cyera to expedite the development of its cutting-edge cloud-native operational platform, further bolstering its commitment to safeguarding sensitive data.
Co-founded by Talpiot and 8200 alumni, Yotam Segev (CEO) and Tamar Bar-Ilan (CTO), Cyera has established itself as a pioneering force in the field of data security. By adopting a data-centric approach, Cyera’s platform not only comprehends a company’s unique data and its specific business purpose but also automates remediation workflows. This powerful combination effectively minimizes the attack surface and ensures operational resilience, all at the speed and scale demanded by the cloud environment.
As businesses increasingly embrace Generative AI solutions, like the renowned ChatGPT, they face a pressing challenge: balancing innovation with security and privacy risks. In this regard, Cyera emerges as a formidable solution provider, empowering enterprises to harness the full potential of their data while upholding stringent security measures. Leveraging the capabilities of Large Language Models (LLMs) and Generative AI, Cyera’s platform excels at discovering, classifying, and securing sensitive data. The platform’s unified policy engine stands out by efficiently identifying misconfigurations, offering tailored access control recommendations, and generating new policies that fortify data security.
The remarkable innovation behind Cyera’s approach to data security has garnered widespread acclaim within the industry. The company has been honored with prestigious accolades, including the highly coveted 2022 CISO Choice Award for Data Security, recognition as the Best Enterprise Data Loss Prevention (DLP) Solution, and the distinguished title of 2023 Data Security Platform of the Year.
With this recent influx of investment, Cyera’s total funding has now reached an impressive $160 million. The company proudly announced that it had experienced a staggering 800% revenue growth among its S&P 500 enterprise clients. This remarkable achievement is a testament to the trust placed in Cyera’s innovative solutions and its unwavering commitment to enhancing data security for businesses across industries.
Conclusion:
Cyera’s successful Series B funding round and its innovative cloud-native operational platform demonstrate the growing demand for data-centric security solutions in the market. With the increasing adoption of Generative AI and the need for businesses to balance innovation with security and privacy, Cyera stands as a formidable provider of robust data security solutions. The significant funding infusion and the recognition received further solidify Cyera’s position as a key player in revolutionizing the data security landscape. As the market continues to prioritize data protection, Cyera’s advancements and expertise will undoubtedly contribute to shaping the future of secure data management.
