A trend accelerated by the mass move to digital during the pandemic, enterprises are having to handle an increasing amount of proprietary data. According to one survey, the average company deals with 63% growth in data volume per month, with 12% of respondents reporting a whopping 100% growth.
As the amount of data grows, it becomes tougher for organizations to keep track of it — and ensure that it remains secure. Seeking to protect it, Yotam Segev and Tamar Bar-Ilan, who met several years ago in the Israel Defense Forces, co-founded Cyera, a platform intended to provide companies greater visibility over their sensitive data.
Demonstrating the enthusiasm around such solutions, Cyera today closed a $100 million Series B funding round led by Accel, with participation from Sequoia, Cyberstarts and Redpoint Ventures. The round brings Cyera’s total raised to $160 million, which Segev, who serves as Cyera’s CEO, says will be put toward investing in engineering talent and R&D.
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