Cyera, an Israeli startup offering cloud data security, launched from stealth with $60 million in funding. The company says that it will now lead the “data-first revolution” in cloud security. The financing, which comes just ten months after Cyera’s formation, was led by Sequoia Capital.
Israel Startup Nation is best known for its cyber security firms. But the $60 million raised by Cyera is nothing compared to the $215 million in investments to date raised by Island, an Israeli startup that created the Enterprise Browser, that earlier this month brought in $115 million in its Series B financing round which left the company with a $1.3 billion valuation. And HUB Cyber Security, an Israeli startup, is now valued at nearly $1.3 billion after the company held an SPAC merger last week.
Cyera was co-founded in 2021 by Yotam Segev, CEO, and Tamar Bar-Ilan, CTO. The two met over a decade ago in the Israeli Defense Forces’ (IDF) elite Talpiot leadership academy and served together in the IDF’s Unit 8200 where they founded, built, and ran the cloud security division. Cyera has already made inroads with multiple Fortune 500 customers and has 50 employees worldwide, including Israel and the US.
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The investment will be used to develop the functionality and features of the market’s leading cloud data security platform, incorporating feedback from customers over the following months.
Cyera says that its platform can be connected to a company’s cloud footprint in minutes, regardless of the underlying data technologies, and map all datastores in the cloud. From there, Cyera parses and classifies this data (including PII) and then surfaces the highest priority risks for remediation with suggested courses of action.
Where existing ‘cloud security’ solutions merely manage the security posture of cloud infrastructure, Cyera boasts that its service provides visibility, intelligence and actionable insights to remediate potential security risks.
Yotam Segev, Cyera co-founder and CEO, commented, “The hands-on experience leading Unit 8200’s cloud security initiative gave us a real sense of both the promise and the challenges in this space. We saw just how fast data moved, replicated, and multiplied in the cloud, and how traditional approaches simply couldn’t keep pace.”
“What Yotam, Tamar and the team have managed to build in under a year is incredible,” said Lior Simon, partner of Cyberstarts, which was the seed investor in the company. “Their focus on customers is admirable. Cyera is agentless as time to value is key. It supports AWS, Azure and GCP serving any type of customer including many which have become multi-cloud.”