Cyera targets $12B valuation in massive $300M funding round, despite burning cash
Cybersecurity firm Cyera is closing in on a $300 million funding round led by Evolution Equity Partners, according to sources familiar with the matter. The deal would value the company at approximately $12 billion, marking a significant step-up from its previous valuation.
Funding Round Details
The $300 million round is being led by Evolution Equity Partners, a venture capital firm that has previously backed cybersecurity companies. Cyera, which focuses on data security posture management, has been burning through cash as it scales its operations. The company has not publicly commented on the fundraising.
Valuation and Growth
At a $12 billion valuation, Cyera would nearly double its worth from its last funding round in 2024, when it was valued at $6.5 billion. The company has raised over $500 million to date from investors including Sequoia Capital, Redpoint Ventures, and Accel. Cyera’s revenue has grown rapidly, though it remains unprofitable.
Product and Market Position
Cyera’s platform helps organizations discover, classify, and protect sensitive data across cloud and on-premises environments. The company competes with firms like BigID, Securiti, and Varonis in the data security market. Cyera claims to have over 200 enterprise customers, including several Fortune 500 companies.
Leadership and Team
Founded in 2021 by CEO Yotam Segev and CTO Tamar Bar-Ilan, Cyera has grown to over 500 employees. Segev previously served as an officer in the Israeli Defense Forces’ intelligence unit, while Bar-Ilan held senior roles at cybersecurity companies. The company is headquartered in New York with R&D facilities in Israel.
Market Context
The broader crypto market is experiencing a downturn. Bitcoin is trading at $66,522, down 6.8% in the last 24 hours. Ethereum is at $1,859.60, a 7.2% drop over the same period. The declines come amid macroeconomic uncertainty and regulatory headwinds, though cybersecurity valuations remain elevated as enterprise spending on data protection continues to grow.