While it is true cybersecurity funding has significantly slowed, it certainly has not dried up.

Data security startup Cyera raised a $300 million Series C led by Coatue at a $1.4 billion valuation. New investors Spark Capital, Georgian and AT&T Ventures, alongside existing investors Sequoia Capital, Accel, Redpoint Ventures, and Cyberstarts also participated in the round.

The round nearly triples the New York-based startup’s valuation from its $100 million Series B last June which valued it at $500 million. Founded in 2021, Cyera has raised $460 million to date, per the company

Cyera offers a platform that helps security teams at companies understand what data they have and how it’s used, as well as how to secure it — all of which has become more important with companies relying on data to drive AI initiatives.

The startup also uses AI in its platform to assess risks a companies’ data represents regarding security, privacy and regulatory compliance.

“CIOs and CISOs are realizing it is critical that they secure all of their enterprise data as an absolute necessity in order to thrive and survive in a new AI-driven world,” said co-founder and CEO Yotam Segev. “Cyera is working closely and solving this problem for the world’s largest enterprises.”

Cyber cash

Cyera becomes just the latest cybersecurity firm to make headlines regarding big money funding — or at least the potential of big money.

Another data-related security company, Microsoft-back Rubrik, filed to go public just last week in the latest sign of a reawakening IPO market.

In the past month, there also has been a plethora of startup’s raising large private rounds, including:

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Illustration: Dom Guzman

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Around 53%  of investors surveyed predicted that 2024 will pick up in terms of investment pace compared to 2023, while 6% expect to do fewer deals.  

Altogether, venture funding in American and Canadian companies totaled $35.2 billion in Q1 of 2024, per Crunchbase data. That’s a gain of 14% from…