Introduction:
Cyera, a promising data security startup co-founded by Yotam Segev and Tamar Bar-Ilan, has successfully raised $100 million in a Series B funding round. The funding was led by Accel, with participation from renowned investors such as Sequoia, Cyberstarts, and Redpoint Ventures. This significant investment brings Cyera’s total funding to $160 million, which will be utilized to strengthen its engineering talent and accelerate its research and development initiatives.
Addressing the Data Challenges of the Digital Era:
The global shift towards digital transformation, further accelerated by the COVID-19 pandemic, has resulted in enterprises grappling with an ever-increasing volume of proprietary data. According to recent surveys, companies are witnessing a staggering 63% monthly growth in data volume. As data continues to proliferate, organizations face mounting challenges in effectively managing and safeguarding their sensitive information. Cyera aims to address these concerns by providing companies with enhanced visibility and control over their data assets.
The Rise of Data Security Posture Management:
Cyera operates in the realm of data security posture management (DSPM), a category of platforms designed to automate and simplify data detection and protection practices, especially in cloud environments. In recent years, several DSPM startups, including Laminar Security, Dig Security, Sentra, and BigID, have emerged from stealth mode. Varonis, a long-established DSPM provider with a global presence, IPO’ed in 2014. This surge in DSPM solutions aligns with the growing volume of data under enterprise management, as well as the increasing adoption of cloud technologies.
The Need for Effective Data Security in the Cloud Era:
Yotam Segev emphasizes that the pandemic-induced transition to distributed work and software-as-a-service (SaaS) collaboration platforms has accelerated the demand for robust data security measures. Legacy solutions struggle to keep up with the rapid pace of data creation, sprawl, and evolution in the cloud era. Cyera aims to address these shortcomings by offering comprehensive insights, context, and remediation options for security, privacy, and compliance vulnerabilities. Their innovative approach is revolutionizing data security practices.
Enthusiasm for Data Security Solutions:
This substantial investment in Cyera reflects the growing enthusiasm surrounding advanced data security solutions. It underscores the critical importance of implementing robust cybersecurity measures for organizations dealing with substantial volumes of sensitive data. As the digital landscape continues to evolve, companies recognize the necessity of leveraging cutting-edge technologies to protect their valuable information assets.
