Cyera Secures $300 Million in Funding

On the heels of its Trail Security acquisition, data security provider Cyera has raised $300 million in Series D funding.

Accel and Sapphire Ventures led the Series D funding round, with additional participation from Sequoia, Redpoint, Coatue and Georgian. This brings Cyera's valuation to $3 billion, more than doubling in just six months.

This funding follows Cyera’s $300 million Series C round earlier this year and brings Cyera's total funding to $760 million since its founding in 2021.

Courtney Broadwell, Cyera’s head of worldwide channels, said the Series D funding will drive significant opportunities for the company's partners.

“With this investment, we continue to strengthen our partner teams and enhance our partner programs with expanded resources and exclusive benefits,” she said. “Additionally, we will accelerate our services enablement efforts, empowering our partners to deliver exceptional value to their customers, while driving greater market share and profitability.”

Partners to Get Stronger Services Suite with Series D Funding

Overall, this new funding will provide partners with a stronger suite of services to meet diverse customer needs, Broadwell said.

Cyera's Courtney Broadwell

“This substantial raise will enable us to accelerate our AI-driven data security platform — this includes expanding capabilities in data loss prevention (DLP) and identity security, as well as integrating advanced AI functionalities,” she said. “These enhancements will provide partners with access to cutting-edge tools, allowing them to offer more comprehensive and effective data security solutions to their clients. Cyera’s Series D funding is set to drive innovation, expand market reach and enhance partner support, collectively providing a significant competitive advantage in the rapidly evolving data security landscape.”

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Partners will play a critical role in Cyera’s strategy as they are essential to ensuring the success of its customers at scale, Broadwell said.

“By collaborating with partners who bring their relationships, specialized expertise, innovative services and complementary solutions, we can empower our customers to fully operationalize Cyera’s capabilities,” she said. “This will allow our customers to manage risk, optimize operations and achieve their strategic objectives. Since our success is tied directly to the success of our customers, fostering a strong, mutually beneficial partner ecosystem is a cornerstone of Cyera’s overall strategy.”

Strengthening Cyera’s Partner Strategy

Cyera is committed to strengthening its partnerships and its partner strategy in many ways, Broadwell said.

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“We just completed Cyera’s inaugural partner advisory board where we gained valuable feedback to enhance our programmatic structure to best serve our partners,” she said. “This will require a major investment in tooling, automation and the team to support our partners, and we will use our funding to support this. We’ll increase our collaboration and support for our partners, which in turn will enable partners to deliver increased value to their customers. We will also evaluate new acquisition opportunities within the data security space, leading to a larger total addressable market, and additional entry points for our partners to lead with Cyera.”

“This is the third round that Accel leads as Cyera continues to reinvent enterprise data security,” said Philippe Botteri, partner at Accel. “Their initial data security posture management (DSPM) product has now become a data security platform, including new capabilities like identity access and DLP. This team is an innovation powerhouse, and we are thrilled to be one of their largest investors.”
In October, Cyera acquired Trail Security, a next-generation DLP company, for $162 million. The acquisition integrates Trail Security’s DLP capabilities with Cyera’s DSPM platform, Cyera’s core product.

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