Data security startup Cyera continues on a growth tear. On Thursday, it announced a $400 million Series F funding round at a $9 billion valuation. The New York-based outfit has now raised over $1.7 billion. This funding comes just six months after a previous $540 million round at a $6 billion valuation.
The new round was led by funds managed by Blackstone, with participation from existing investors including Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia, and others.
Cyera offers what it calls data security posture management. This service helps companies map out where all their sensitive data lives across cloud systems and databases, track how employees and applications use it, and identify security vulnerabilities. The rise of AI has increased both the volume of data that companies handle and concerns about data leaks. This trend has helped Cyera sign up one-fifth of the Fortune 500 companies as customers and more than triple its revenue in the last year, according to the company, causing investors to eagerly pile in.