Data security company Cyera, a New York- and Tel Aviv-based startup, is finalizing a funding round of at least US$300 million led by Evolution Equity Partners at a US$12 billion valuation, according to a report citing four people familiar with the deal.

The report said Cyera has surpassed US$150 million in annual recurring revenue, but remains far from profitable and is spending heavily, including on sales hires.

PitchBook data cited in the report showed the startup added 500 jobs this year.

A Cyera spokesperson said the figures were “factually and significantly inaccurate.” Evolution Equity Partners did not respond to a request for comment.

Cyera sells an AI-native data security platform covering data security posture management, data loss prevention, and identity capabilities for protecting data across cloud, software-as-a-service (software as a service (SaaS)), on-premises, and AI environments.

The reported round would come about five months after Cyera announced a US$400 million series F at a US$9 billion valuation led by funds managed by Blackstone.

This brings the company’s total funding to more than US$1.7 billion at the time.

🔗 Source: TechCrunch

Recent Cyera developments