Cyera has raised another $400 million, this time from the Growth Equity arm of Goldman Sachs Alternatives. The money extends the company’s Series G, which Evolution Equity led in June, and keeps the valuation above $12 billion. It’s Cyera’s third raise of 2026, taking the year’s total to $1.4 billion and lifetime funding past $2 billion.
That pace is unusual even for security. Cyera was valued at about $3 billion in 2024 and $6 billion in 2025. It raised $400 million at $9 billion in January, then $600 million at $12 billion in June. Now Goldman has added $400 million on top without the price moving, which says investors want in and the company isn’t chasing a higher mark to get them.
From data security to AI agents
Cyera started in 2021 as a data security posture management play. Its pitch was finding where sensitive data sits across cloud accounts and SaaS apps, then who can reach it. Yotam Segev (CEO) and Tamar Bar-Ilan (CTO) founded it in Israel, and it now employs more than 1,500 people across 18 countries.
The Goldman release frames the company differently. The tagline is “the trust layer for the agentic enterprise.” That means watching what AI agents can see and what they actually do with it. Two products carry that story:
- Agent Guardian gives security teams visibility and accountability across the AI agents running inside a company.
- Cyera Endpoint tracks agent tool calls, database queries and actions from the cloud down to the laptop.
The third piece came by acquisition. Cyera bought Oasis Security, a non-human identity (NHI) specialist, in a deal reported at about $1 billion. NHI covers the service accounts, API keys and tokens that software uses to log in. AI agents are the fastest-growing class of those identities, and most companies can’t say how many they have or what each one can touch.
Put together, Cyera is betting that data security and identity security merge once agents show up. An agent is an identity with permissions, pointed at data. If you only see one side of that, you miss the risk.
Why Goldman is paying up
Segev’s argument is that Global 2000 companies won’t scale AI agents until they trust what those agents can see and do. Irit Kahan, a managing director in Goldman’s Growth Equity team, made the same point from the investor side. She credited Cyera with being first to bring data and identity together, and said the gap between what agents can do and what they’re allowed to access is getting more dangerous.
That’s the market thesis in one line. Enterprises are rolling out agents faster than they can govern them, and several surveys out this week say the same thing about AI adoption running ahead of controls. Whoever becomes the default control plane for agent access gets a budget line that barely existed two years ago.
Cyera says the new money goes to three places: more AI security features, a push into the US federal market, and international expansion across EMEA and APAC. Named customers include Paramount, Chipotle and Valvoline. Its existing backers include Accel, Blackstone, Cyberstarts, Georgian, Lightspeed and Sequoia.
What it means for the market
Cyera doesn’t disclose revenue, so the $12 billion price rests on growth expectations. That is the main risk. Five raises in about two years, each at a higher price, leave little room for a slow quarter.
For the rest of the sector the signal is clearer. The big platforms (Palo Alto Networks, CrowdStrike, Zscaler, Microsoft) are all pitching agent security now, and Palo Alto has been buying its way into identity. Cyera is building the same stack as a standalone company with a war chest to match. Expect more NHI and agent-security startups to get bought in the next year, by the platforms or by Cyera.
Goldman has picked its side. The consolidation fight is on.