Blackstone Group LP is leading a $400 million investment in Israeli data security startup Cyera, valuing the company at $9 billion, according to people familiar with the matter.
Founded in 2021, Cyera is backed by venture capital firms Sequoia Capital and Accel and operates an artificial intelligence (AI)-driven platform. Existing investors, including these firms, are also expected to participate in the new funding round.
In June, Cyera raised $540 million in a funding round that doubled its valuation to $6 billion.
The rapid adoption of AI has led companies to increase spending on protecting systems from cyberattacks, driving higher demand for firms like Cyera, which provides data security through its AI-powered platform.
Cyera reported in June that it expanded operations to 10 countries over the past 18 months, more than doubling its global workforce to nearly 800 employees. During this period, it raised $1.3 billion, with its valuation surging 12-fold.
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