Israeli data security co Cyera raises $300m

• Published date: 09 April 2024
• Author: Assaf Gilead
• Publication title: Globes (Rishon LeZion, Israel)

This latest large financing round reflects rising investment in growth companies after several years of stagnation. In the past few weeks alone Israeli startups including Fundguard, Coro and Hailo have completed financing rounds of more than $100 million each. By the end of this week Israeli startups are expected to have announced new financing rounds totaling $800 million

Unlike the other Israeli startups that have recently announced large financing rounds, Cyera is the only one to have reached unicorn status through its new investment. The financing round makes it the biggest Israeli enterprise cloud data security company, after two of its rivals - Dig Security and Flow Security - were acquired over the past few months by international companies Palo Alto Networks and CrowdStrike, for $295 million and $120 million respectively. Two other Israeli rivals - BigID and Sentra - remain independent starrtups.

Cyera was founded by CEO Yotam Segev, and CTO Tamar Bar-Ilan, who served together in the IDF's Unit 8200 where they founded, built, and ran the cloud security division. The company has developed an agentless, cloud-native platform, which can be deployed in minutes and uses native APIs to continuously discover, classify, and secure sensitive data.

Cloud data security companies like Cyera enable data security managers in organizations to...