The capital enthusiasm in the global cybersecurity field remains undiminished. According to multiple sources, cloud data security startup Cyera is poised to complete a new round of financing of at least $300 million. This round is led by Evolution Equity Partners, and after the completion of this round, the valuation of this security unicorn will jump directly to $12 billion.

Notably, this move comes just five months after its $400 million Series F financing, which was led by Blackstone in January this year. If this round of financing is successfully closed, Cyera, founded in 2021, will have raised more than $2 billion in total funding, with an impressive list of investors that includes Sequoia Capital, Accel, Coatue, and Lightspeed, among other top global investment institutions.

What has driven such intense capital interest is Cyera's outstanding performance in the enterprise data security market. With hackers increasingly weaponizing artificial intelligence, the demand for data protection in multi-cloud environments has seen explosive growth. Currently, one-fifth of the Fortune 500 companies in the United States have become its customers. A source said that the company's annual recurring revenue (ARR) has now exceeded $150 million. This means that this round of financing has matched Cyera with an 80x ARR valuation multiple, a figure that even many currently popular generative AI startups find hard to match.

However, behind the high valuation and rapid commercialization, the company's profitability prospects have also attracted industry attention. A source admitted that Cyera is still in a continuous loss state, and "spending faster than earning."

The high operating costs mainly flow into two areas: first, aggressive personnel expansion. Data shows that the company has added approximately 500 sales and related positions this year, trying to further erode the global market by increasing the number of channel resources; second, aggressive M&A activities. Recently, the company has frequently used cash reserves to acquire cybersecurity startups such as Ryft, backed by Index Ventures, and Genie Security, which was less than a year old, aiming to quickly fill its technology portfolio through external infusions.

In response to the exposure of this financing news and financial data, Cyera's spokesperson clearly stated that the numbers circulating externally are seriously inaccurate; while the lead investor Evolution Equity Partners refused to comment. In the period of global technological restructuring and security competition, whether this cloud security giant can use technical premium to outpace its expanding loss exposure remains to be tested by the public capital market.