Data security startup Cyera is finalising a funding round of at least $300 million led by Evolution Equity Partners at a $12 billion valuation, according to sources familiar with the deal — just five months after raising a $400 million Series F at a $9 billion valuation led by Blackstone.
The new round would bring Cyera’s total capital raised to at least $2 billion. The company has surpassed $150 million in annual recurring revenue, though it remains unprofitable, with the valuation representing roughly 80 times ARR — a multiple exceeding those typically assigned to fast-growing AI startups. Cyera has added approximately 500 employees this year, with significant spend directed at sales hiring.
Founded in 2021, Cyera has grown rapidly as enterprises seek to protect data from attackers increasingly using AI as an offensive tool. The company counts roughly one-fifth of the Fortune 500 among its customers and reported revenue more than tripling in 2025. Recent acquisitions include Ryft, backed by Index Ventures, and early-stage startup Genie Security, as Cyera uses its capital to consolidate capabilities across the cybersecurity landscape.
