Data Security Firm Cyera Nears $300M Funding Round at $12B Valuation
Quick Look
- Data storage security company Cyera is reportedly close to securing at least $300 million in funding at a $12 billion valuation.
- The company has surpassed $150 million in ARR but remains unprofitable, with spending on sales staff and job growth.
AI-generated summary
Why It Matters
Cyera is a data storage security company founded in 2021. It has recently raised significant capital, including a $400 million Series F round five months prior to this reported new round. The company aims to help enterprises safeguard data from AI-weaponized attacks.
Data storage security company Cyera is finalizing a round led by Evolution Equity Partners of at least $300 million at a $12 billion valuation, according to four people with knowledge of the deal.
Calcalist was first to report the funding deal, although TechCrunch’s sources added new details about the company and its financials.
Cyera has surpassed $150 million in annual recurring revenue (ARR), three people familiar with the matter told TechCrunch, though it remains far from profitable. The deal values Cyera at 80 times its ARR, a multiple that’s even higher than investors assign to many fast-growing AI startups.
Sources told TechCrunch the company is spending money faster than it makes it. Some of those costs are directed at hiring sales staff. According to Pitchbook, Cyera has added 500 jobs so far this year.
Cyera’s spokeperson said that “the numbers cited are factually and significantly inaccurate.” Evolution Equity Partners didn’t respond to a request for comment.
The new round is expected to come just five months after Cyera announced that it had raised a $400 million Series F at a $9 billion valuation led by Blackstone with participation from existing investors, including Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia, Cyberstarts, and others. The upcoming round will bring Cyera’s total capital haul to at least $2 billion.
Cyera, which was founded in 2021, has benefited as enterprises turn to its platform to safeguard their data from attackers weaponizing AI. When it announced its Series F, the company claimed its customers comprised one-fifth of the Fortune 500, and its revenue had more than tripled in 2025.
In recent months, the company has used its capital to finance operating losses as well as acquire other cybersecurity startups, including Index Ventures-backed Ryft and a less than one-year-old Genie Security.
What to Watch
AI outlook — possibilities, not facts
Cyera will likely close the funding round at or near the reported figures.
Likely · Within days
Cyera will continue to invest heavily in sales and hiring.
Very likely · Within months
Increased scrutiny on Cyera's path to profitability and valuation sustainability.
Likely · Within months
Open Questions
- What is the exact amount of the new funding round?
- What is the final valuation of Cyera after this round?
- What are the specific reasons for Cyera's high spending?
- What is Cyera's path to profitability?
