The data security company reached that valuation after raising $400 million from Goldman Sachs Growth Equity, The Wall Street Journal (WSJ) reported Tuesday (Sept. 22).
“The urgency in the market for solutions has grown 10-fold,” Yotam Segev, chief executive and co-founder of Cyera, told the WSJ.
He added that investor enthusiasm is in keeping with demand from corporate customers, as Cyera recently signed its first client spending more than $10 million per year with the firm.
The WSJ note that while big cybersecurity fundraising rounds are growing more common, Cyera’s stands out even in a sector flooded with capital. Cybersecurity/privacy startups took in $10.6 billion globally in the first half of this year, with more than 20 companies raising rounds of at least $100 million, the report said, citing Crunchbase data.
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The report added that this new funding gives Cyera more dealmaking firepower, following its recent $1 billion cash-and-stock acquisition of Oasis Security, a company focused on managing nonhuman identities like AI agents and automated software tools.
Segev told the WSJ that Cyera plans to keep its eyes open for M&A opportunities, and while internal engineering will fuel most product development, the company continues to look at targets that could bolster its data-security platform.
“We want to be in a position to choose the right companies to expand the Cyera portfolio,” he said.
In January of this year, the company was valued at $9 billion in a financing round in which it brought in $400 million.
Concerns about AI-related cyberattacks have ballooned in recent months after several tech companies said their AI agents had hacked external websites. These incidents led Anthropic CEO Dario Amodei to call for a slowdown in the pace of AI development.
PYMNTS wrote last week that while that idea makes sense, the way it would be implemented remains murky.
“There is no accepted measure of how fast AI capability is advancing,” that report said. “A model gets more dangerous through better tools, more compute, new training methods or wider system access. A limit on one input just pushes development toward another, unless independent authorities define checkpoints and update them faster than companies learn to route around them.”
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