Cyera is announcing a massive round of funding and is now a clear leader in the DSPM field, at least from a funding standpoint.

Cyera announced a $300 million Series D round. This latest investment is led by Accel and Sapphire Ventures, with additional participation from Sequoia, Redpoint, Coatue, and Georgian. The new funding brings Cyera’s valuation to $3 billion. This funding follows Cyera’s $300 million Series C round earlier in 2024 and brings Cyera’s total funding to $760 million since its founding in 2021.

Cyera’s claim to fame is advanced AI/ML for instant data discovery and classification with 95% accuracy. They can do this via APIs and without an agent, which enterprise customers have adopted quickly. The APIs include coverage across SaaS, PaaS, and IaaS environments as well as on-premises databases and file shares.