Artificial intelligence Cybersecurity Startups Venture

Cyera Nabs $100M To Protect Data

Illustration of masked thief peeking through keyhole on laptop screen.

Data security startup Cyera raised a $100 million Series B as the cyber industry tries to shake off a funding slowdown through the past few quarters.

The round was led by Accel, with existing investors Sequoia Capital and Cyberstarts, and new investor Redpoint Ventures all taking part.

While data may be king, keeping track of it and securing it can be a pain. That is where Cyera comes in, as the startup offers a platform that helps security teams at companies understand what data they have and how it’s used, as well as how to secure it.

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Such platforms can be useful as security teams struggle with growing amounts of data while also often facing staffing issues.

“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 co-founder and CEO Yotam Segev in a release.

Since closing its Series A last March, the company has realized 800% revenue growth, the company said in the release. Founded in 2020, the company has now raised $164.5 million across three rounds, per Crunchbase.

Funding slowdown

Cyber — normally thought to be pretty resistant to funding slowdowns — has seen a significant dip since the fourth quarter of 2021, per Crunchbase data.

That quarter saw nearly $8.5 billion invested into cyber startups. However, the sector then saw four consecutive quarters of decline before hitting $2.7 billion in the first quarter of this year — a slight uptick from the $2.4 billion in the final quarter of 2022.

However, that first-quarter number represented a 58% drop from the $6.5 billion such startups saw in the same quarter of 2022.

Second-quarter numbers for cyber look even worse with less than a week left.

Illustration: Dom Guzman

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