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

Cyera, which was founded in 2021, has benefited as enterprises turn to its platform to safeguard their data from attackers weaponizing AI. When it announced its Series F, the company claimed its customers comprised one-fifth of the Fortune 500, and its revenue had more than tripled in 2025.

In recent months, the company has used its capital to finance operating losses as well as acquire other cybersecurity startups, including Index Ventures-backed Ryft and a less than one-year-old Genie Security.