Data security startup Cyera continues on a growth tear. On Thursday, it announced a $400 million Series F funding round at a $9 billion valuation. The New York-based outfit has now raised over $1.7 billion. This funding comes just six months after the previous $540 million round at a $6 billion valuation.
The new round was led by funds managed by Blackstone with participation from existing investors including Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia, and others.
Cyera offers what it calls data security posture management, a service that helps companies map out where all their sensitive data lives across cloud systems and databases, track how employees and applications use it, and identify security vulnerabilities. The rise of AI — which has increased both the volume of data that companies handle and concerns about data leaks — has helped Cyera sign up one-fifth of the Fortune 500 companies as customers and more than triple revenue in its last year, the company says, causing investors to eagerly pile in.
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