Cyera eyes $12B valuation at 80x ARR multiple despite operating losses
Cyera eyes $12B valuation at 80x ARR multiple despite operating losses
Cyera 尽管处于运营亏损状态，仍以 80 倍 ARR 倍数寻求 120 亿美元估值
Data storage security company Cyera is finalizing a round led by Evolution Equity Partners of at least $300 million at a $12 billion valuation, according to four people with knowledge of the deal. Calcalist was first to report the funding deal, although TechCrunch’s sources added new details about the company and its financials. 据四位知情人士透露，数据存储安全公司 Cyera 正在敲定一轮由 Evolution Equity Partners 领投的融资，金额至少为 3 亿美元，估值达到 120 亿美元。Calcalist 最先报道了这笔融资交易，不过 TechCrunch 的消息来源补充了关于该公司及其财务状况的更多细节。
Cyera has surpassed $150 million in annual recurring revenue (ARR), three people familiar with the matter told TechCrunch, though it remains far from profitable. The deal values Cyera at 80 times its ARR, a multiple that’s even higher than investors assign to many fast-growing AI startups. 三位知情人士告诉 TechCrunch，Cyera 的年度经常性收入 (ARR) 已超过 1.5 亿美元，尽管该公司距离盈利仍有很大距离。这笔交易对 Cyera 的估值是其 ARR 的 80 倍，这一倍数甚至高于投资者给予许多快速增长的 AI 初创公司的估值。
Sources told TechCrunch the company is spending money faster than it makes it. Some of those costs are directed at hiring sales staff. According to Pitchbook, Cyera has added 500 jobs so far this year. Cyera’s spokeperson said that “the numbers cited are factually and significantly inaccurate.” Evolution Equity Partners didn’t respond to a request for comment. 消息人士告诉 TechCrunch，该公司的支出速度超过了其收入速度。其中部分成本用于招聘销售人员。根据 Pitchbook 的数据，Cyera 今年迄今已增加了 500 个工作岗位。Cyera 发言人表示：“所引用的数字在事实上存在严重偏差。”Evolution Equity Partners 未回应置评请求。
The new round is expected to come just five months after Cyera announced that it had raised a $400 million Series F at a $9 billion valuation led by Blackstone with participation from existing investors, including Accel, Coatue, Lightspeed, Redpoint, Sapphire, Sequoia, Cyberstarts, and others. The upcoming round will bring Cyera’s total capital haul to at least $2 billion. 这轮新融资距离 Cyera 宣布完成 4 亿美元的 F 轮融资仅过去五个月，当时其估值为 90 亿美元，由黑石集团 (Blackstone) 领投，现有投资者（包括 Accel、Coatue、Lightspeed、Redpoint、Sapphire、Sequoia、Cyberstarts 等）跟投。即将到来的这轮融资将使 Cyera 的融资总额至少达到 20 亿美元。
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. Cyera 成立于 2021 年，随着企业纷纷转向其平台以保护数据免受利用 AI 进行攻击的黑客侵害，该公司从中受益匪浅。在宣布 F 轮融资时，该公司声称其客户涵盖了五分之一的财富 500 强企业，且其 2025 年的收入增长了两倍多。
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. 近几个月来，该公司利用其资金来弥补运营亏损，并收购了其他网络安全初创公司，包括获得 Index Ventures 支持的 Ryft 以及成立不到一年的 Genie Security。