Data security solutions provider Cyera Ltd. announced today it raised $540 million in a late-stage funding, doubling its valuation to $6 billion.

The Series E round, led by Georgian, Greenoaks and Lightspeed Venture Partners, comes around six months after the company raised $300 million. Existing investors Accel, Coatue, Cyberstarts, Redpoint, Sapphire Ventures, Sequoia Capital and Spark Capital also participated in the round.

Founded in 2021, Cyera offers an artificial intelligence-driven platform for organizations that allows them to discover, classify and protect sensitive data within their systems and safely build with AI applications, copilots and foundation models.

The company says data security is becoming an increasing demand amid the scale of risks and threat surfaces that have appeared in the “AI era” where vulnerabilities and leaks abound. Cyera’s solution provides continuous monitoring of data assets to identify risks and vulnerabilities. It also suggests proactive remediation to maintain compliance, reduce exposure to threats, prevent data breaches and unauthorized data transfers.

“Investors are doubling down where the market is moving and where there is proven traction. AI runs on GPUs and data,” said co-founder and Chief Executive Yotam Segev. “Cyera’s focus on data security is the most critical capability the enterprise needs to adopt AI responsibly.”

The company said that its ongoing growth over the past 18 months highlights the scale of the opportunity in the market. The company achieved 353% year-over-year growth among Fortune 500 customers and expanded its operations to over 10 countries, more than doubling its size by growing to over 800 employees worldwide.

Last October, the company also announced it acquired Israeli data loss prevention company Trail Security Ltd. for $162 million. The acquisition led to the launch of the company’s Omni DLP product, which will be used to elevate enterprise AI-native solutions for comprehensive data loss protection.

The global data protection industry was valued at $150.4 billion in 2024, according to a report from market analysis firm Fortune Business Insights. The market is expected to grow from $172 billion in 2025 to $505 billion in 2032. North America dominates the global data projection market with a share of over 32% in 2024.

Cyberattacks and data breaches have become increasingly common, with severe consequences. In 2024, IBM reported that the average cost of a data breach globally was around $4.88 million.

“Enterprises are drowning in data, scattered across clouds, databases, and applications, often unaware of where their most sensitive information actually lives,” said Patrick Backhouse, a partner at Greenoaks. “AI has turned this blind spot into an existential risk.”

Cyera said the latest round would be used to maintain its growth momentum in new and existing strategic markets globally and build product offerings on the security platform through acquisitions, hiring key talent and developing new capabilities.

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