AI-Driven Cybersecurity Startup Raises $100M

An Israeli cybersecurity startup that uses AI to protect company data has raised $100 million, which will be used to accelerate the development of its platform. 

The Cyera platform uses large language models to automatically discover, classify, and secure sensitive data. The company says that its platform encourages security teams to understand the data they have, how it is used, and apply the correct controls to secure it. 

The funding was raised by venture capital firm Accel with participation from investors Sequoia and Cyberstarts. 

This brings the company’s total funding to $160 million since emerging from stealth in 2022. In the past year, Cyera has won a number of industry awards including the 2023 Data Security Platform of the Year, and has grown its revenue by 800 percent. 

“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 [chief information security officers] meet their most pressing challenge — securing their data in the cloud era.”

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

“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.”