ai
Cyera eyes $12B valuation at 80x ARR multiple despite operating losses
Key takeaways
- Data storage security company Cyera is finalizing a round led by Evolution Equity Partners of at least $300 million at a $12 billion valuation, according to four people with knowledge of the deal.
- Calcalist was first to report the funding deal, although Tech Crunch s sources added new details about the company and its financials.
- Cyera has surpassed $150 million in annual recurring revenue (ARR), three people familiar with the matter told Tech Crunch, though it remains far from profitable.
Why this matters: a development in AI with implications for how people work, create, and decide.
Data storage security company Cyera is finalizing a round led by Evolution Equity Partners of at least $300 million at a $12 billion valuation, according to four people with knowledge of the deal.
Calcalist was first to report the funding deal, although Tech Crunch s sources added new details about the company and its financials.
Cyera has surpassed $150 million in annual recurring revenue (ARR), three people familiar with the matter told Tech Crunch, though it remains far from profitable. The deal values Cyera at 80 times its ARR, a multiple that s even higher than investors assign to many fast-growing AI startups.
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