Data security firm Cyera raises $600 million at $12 billion valuation

June 10 (Reuters) - Data ‌security firm ​Cyera ​said on Wednesday it has raised $600 million at a $12 billion valuation ‌in a late-stage funding round, quadrupling its ⁠valuation from more than a year ago.

The jump ‌underscores rising investor interest ‌in data security businesses as cybersecurity threats increase alongside the rapid adoption of generative ​AI technologies.

• The funding round was led by Evolution Equity Partners, with ⁠participation from Singapore state investor Temasek and Israeli venture capital ​fund Cyberstarts, Cyera said.

• Existing investors including Accel, AT&T Ventures, Blackstone and Coatue ​also took part in ‌the round, the company added.

• Cyera said it has tripled its ⁠annual recurring revenue for three straight years, expanded its workforce to 1,500 employees across 18 ⁠countries and acquired five companies in the last 18 ​months.

• Cyera's software helps companies identify, classify and protect sensitive data across cloud and on-premise systems, helping ‌them monitor risks and comply with regulations.

• In January, Cyera raised $400 ‌million at a $9 billion valuation, proceeds from ⁠which were earmarked ‌for product development, ​global expansion and partnerships.

(Reporting by Anhata Rooprai in Bengaluru; Editing by Jonathan ‌Ananda)

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