Cyera in Talks to Raise Funding at $20 Billion Valuation as Cybersecurity Sector Heats Up

Cybersecurity startup Cyera is in talks with investors about a new funding round that could value it at $20 billion, nearly double its valuation four months ago. According to Sina Finance, the discussions are at an early stage, and the company's spokesperson declined to comment. The talks come as AI-driven vulnerability discovery fuels a surge in corporate security spending. Founded five years ago by Yotam Segev and Tamar Bar-Ilan, both veterans of Israel's elite military intelligence Unit 8200, the New York-based company protects corporate data from cyberattacks. Its products scan customers' cloud storage, databases, and email systems to identify and track sensitive data, alerting IT managers to risks of leaks or theft. Customers include Blue Cross Blue Shield, Paramount, and Chipotle. In June this year, Cyera completed a funding round at a $12 billion valuation, raising $600 million; the round was expanded by another $400 million last month. The size of the proposed new round is not known, and the company's financial performance has not been disclosed.