Cyera eyes $12B valuation at 80x ARR multiple despite operating losses

Cyera, a data storage security company founded in 2021, is reportedly finalizing a funding round led by Evolution Equity Partners of at least $300 million at a $12 billion valuation; the article also references a prior $400 million Series F at a $9 billion valuation. The report states Cyera has surpassed $150 million ARR, is investing heavily in growth (including hiring and acquisitions such as Ryft and Genie Security), is not yet profitable according to sources, and disputes some of the cited figures.