Data security startup Cyera has seen remarkable growth. On Thursday, it revealed a $400 million Series F funding round, bringing its valuation to $9 billion. The New York-based company has now raised over $1.7 billion in total. This latest funding round follows a $540 million raise just six months ago, when the company was valued at $6 billion.
This round was led by funds managed by Blackstone, with contributions from existing investors such as Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia, and others.
Cyera provides a service known as data security posture management, which helps companies map where their sensitive data resides across cloud systems and databases. It also tracks how employees and applications interact with that data and identifies security risks.
The growth of AI, which has led to an increase in both the volume of data companies handle and concerns over data leaks, has contributed to Cyera’s success. The company now counts one-fifth of the Fortune 500 companies as clients and has more than tripled its revenue over the past year, prompting strong investor interest.