Exclusive: Cybersecurity Startup Cyera Discusses $20 Billion Valuation

Cyera, a five-year-old cybersecurity startup focused on protecting corporate data against AI-powered attacks, has spoken to investors about raising capital in a round that would nearly double its valuation to $20 billion, according to people familiar with the matter.

The talks, which are in an early stage, come just four months after its last fundraise, underscoring the heightened attention on cybersecurity as AI threats, and spending on new security products, grow. A spokesperson for the company, whose financial performance couldn’t be learned, declined to comment.

The New York-based company, founded by Yotam Segev and Tamar Bar-Ilan, two former members of the Israeli military’s elite 8200 intelligence unit, raised $600 million at a $12 billion valuation in June followed by a $400 million extension of the round last month. The amount Cyera is seeking to raise now could not be learned.

Cyera aims to safeguard corporate data against attacks, using AI. The company’s product scans a customer’s cloud storage, databases and email systems to identify and track sensitive data. It alerts IT staff if data are at risk of being exposed or stolen. Cyera’s customers include the insurance behemoth Blue Cross Blue Shield, entertainment company Paramount and food chain Chipotle.