Cyera Cybersecurity Startup Nears $12 Billion Valuation

Cyera, a data security company, is closing a new funding round led by Evolution Equity Partners. According to four reliable sources, the company is expected to raise at least $300 million, bringing its valuation to $12 billion. This deal would make Cyera one of the most valuable cybersecurity startups in the market. Techcrunch.com reports .

Although Cyera's annual recurring revenue (ARR) has exceeded $150 million, the company is not yet profitable. The new investment deal values the company at 80 times its annual revenue. Such a high multiple is rare even for the fastest-growing AI startups.

Sources indicate that Cyera is currently spending more than it earns. Most of the expenses are directed toward hiring sales staff, and according to Pitchbook data, the company has created 500 new jobs this year alone. However, Cyera representatives declined to comment, stating that the cited financial figures are far from accurate.

Founded in 2021, Cyera helps large enterprises protect their data from AI-driven cyberattacks. One-fifth of Fortune 500 companies are among its clients. In recent months, the startup has used its capital not only to cover operational costs but also to acquire other cybersecurity startups like Ryft and Genie Security.