The Israeli company Ciara announces the completion of the C fundraising round in the amount of a whopping 300 million dollars. The current funding round has been completed at a valuation of $1.4 billion, putting Cyera in the unicorn club. In this way, Ciara is also the first Israeli unicorn for 2024.
Last year the first startup to enter the club was AI21 Labs, but it did it somewhere at the end of August, so maybe this is a trend improvement. This huge fundraising round comes after a huge fundraising round that was only completed in June of last year, when Ciara raised $100 million before it could celebrate its one year anniversary.
Ciara’s platform is able to map all assets in the cloud. So far it sounds like quite a few other Israeli startups, but unlike products that map the assets to protect them, Ciara’s system looks for the organization’s sensitive information. After it finds the organization’s various databases in the cloud, it classifies the information in them into different sensitive categories such as personal details, financial information, medical information, technical information, intellectual property and more. Only after that, the system looks for the security problems, or the various regulatory problems that may complicate the company. At the end of the scanning process, the system provides the steps to fix the problems, manage the repair process and also offers tools for future improvement.
Yotam Segev, co-founder and CEO of Cyera, says that over the past year, the company’s sales grew by 900% while signing huge clients such as Paramount, AT&T and BNY Mellon. Paramount, by the way, uses the company’s platform in 7 different environments, which he says is a coverage that very few products in the cyber market are able to provide. “The depth of our classification is insane and our ability to show customers their data in an automatic way leads the market by a huge margin.” The investors claim that we made the most significant jump in terms of sales among all the SaaS companies in the market at our stage. Existing customers increased their contracts with us in a very significant way and committed themselves for many years to come and we became the clear leaders of the emerging DSPM market and the huge data security market hungry for innovation.”
Cyera was founded in early 2021, and currently employs about 200 people in its offices. So far the company has raised 460 million dollars.
