Cybersecurity firm Cyera raises $600 million at a $12 billion valuation

Cybersecurity unicorn Cyera has raised $600 million at a $12 billion valuation. Last week, Calcalist reported that the company had raised $300 million, but after publication it emerged that the actual amount was double. The completion of the round reflects a fourfold increase in the company’s valuation over the past 18 months.

The round was led by Evolution Equity Partners, with participation from Cyberstarts and Temasek, alongside all existing investors, including Sequoia, Accel, AT&T Ventures, Blackstone, Coatue and Spark Capital. Following the financing, Cyera has raised more than $2.3 billion in total since its founding.

Yotam Segev, co-founder and CEO of Cyera, said, “Our customers include the world’s most advanced companies, all of which share a similar goal, to drive broad adoption of artificial intelligence while maintaining control, visibility and risk management. Trust begins with a clear understanding of what AI systems can see and what they are capable of doing. This is an essential infrastructure layer that organizations have been missing, and it is the area in which we have been working with our customers from day one. The current financing will enable us to accelerate platform development and expand our operations.”

The growing demand for solutions in the field is also reflected in the company’s growth rate. Cyera’s annual recurring revenue, ARR, has tripled for three consecutive years. Over the past 18 months, the company has grown to more than 1,500 employees operating in 18 countries and has completed five acquisitions, the latest being Ryft and Genie. These acquisitions have expanded the capabilities of Cyera’s platform to help organizations manage and control AI systems at scale. The company’s customers include Paramount, Chipotle, Valvoline, Hollister, Docusign and others.