Israeli data security company Cyera has raised $600mn in a new funding round at a $12bn valuation, according to a press release from the company. 

The investment makes Cyera one of Israel's most valuable technology companies, indicating investor appetite for AI-era data protection infrastructure amid the ongoing increase in hacks from foreign actors across the region.

The round was led by Evolution Equity Partners, with participation from CyberStarts and Singaporean sovereign wealth fund Temasek, alongside existing investors Sequoia, Accel, Blackstone, Spark Capital and AT&T Ventures.

The raise brings Cyera's total funding to $2.3bn and represents a fourfold increase in valuation over the past 18 months, Israeli financial newspaper Globes reported.

The company, founded by Yotam Segev and Tamar Bar-Ilan following their service in Unit 8200, operates in the data security posture management (DSPM) segment, a discipline focused on giving organisations visibility and control over sensitive data distributed across cloud, local servers and endpoints. The fundraise also revealed a previously undisclosed co-founder: Yonatan Itay, VP of development.

The valuation places Cyera second among Israeli unicorns by current value, behind Wiz and ahead of Drivents, which raised at an $8.5bn valuation last week.

The investment thesis centres on AI agent proliferation. Cyera estimates that by 2026, approximately 68% of organisations will be unable to distinguish between human and AI agent activity within their systems, a visibility gap the company says its platform is designed to close.

Over the past year, it has launched more than 100 new capabilities spanning AI agent security, identity management, DSPM and data loss prevention.

The broader DSPM space has seen significant consolidation: Rubric acquired Laminar for approximately $105mn in 2023, Palo Alto acquired Dig Security for $295mn in 2024, and CrowdStrike acquired Flow Security for around $120mn.

Cyera, at its current scale, has positioned itself beyond the acquisition range that has absorbed smaller peers and has indicated it intends to remain independent.