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 first reported the funding deal. TechCrunch sources added new details about the company and its financials.
Cyera Surpasses $150M In ARR But Remains Unprofitable
Cyera has surpassed $150 million in annual recurring revenue (ARR), three people familiar with the matter told TechCrunch. The company remains far from profitable. The deal values Cyera at 80 times its ARR, a multiple 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.
Company Spokesperson Disputes The Figures
Cyera’s spokesperson said that “the numbers cited are factually and significantly inaccurate.” Evolution Equity Partners did not respond to a request for comment.
New Round Follows Recent $400M Series F Led By Blackstone
The new round is expected to come just five months after Cyera announced a [Series F round of $400 million] at a $9 billion valuation led by Blackstone. That round included participation from existing investors such as Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia, and Cyberstarts. The upcoming round will bring Cyera’s total capital haul to at least $2 billion.
Enterprises Turn To Cyera As AI-Equipped Attackers Rise
Cyera was founded in 2021. The company has benefited as enterprises turn to its platform to safeguard their data from attackers weaponizing AI. When Cyera announced its Series F, the company claimed its customers comprised one-fifth of the Fortune 500. The company also said its revenue had more than tripled in 2025.
In recent months, Cyera has used its capital to finance operating losses and acquire other cybersecurity startups. Those acquisitions include Index Ventures-backed Ryft and Genie Security, which was less than one year old.
Featured image credits: Magnific.com
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