Cybersecurity startup Cyberhaven, which provides advanced data security solutions, has secured $100 million in a Series D funding round led by StepStone Group. This investment brings the company's total funding to $250 million and increases its valuation to $1 billion.
- Founded in 2016 by Cristian Zamfir, George Candea, Radu Banabic, Vitaly Chipounov, and Volodymyr Kuznetsov, Cyberhaven develops an AI-powered data security platform that leverages innovative data lineage and behavioural analysis to protect sensitive data across modern, dynamic environments.
- Based in Palo Alto, the company offers a cutting-edge solution for data protection, enabling organizations to trace how their data moves, transforms, and is used both within and outside the company.
- Cyberhaven tracks data from its source by analyzing billions of events, giving real-time visibility and control over data movement. Using its proprietary Large Lineage Model (LLiM), the platform classifies data accurately and identifies insider risks, preventing data from being leaked through channels like cloud, email, and removable storage.
"We are building the data security platform to tackle the most difficult challenges facing enterprise security teams with a fundamentally new approach. We're giving organizations complete visibility and real-time control over their data, regardless of how it transforms or where it flows," explains Howard Ting, CEO of Cyberhaven.
Details of the deal
- The Series D funding round was led by StepStone Group, a New York-based global private markets investment firm specializing in customized investment solutions, advisory, and data services.
"We're witnessing a paradigm shift in data security similar to Endpoint Detection and Response a decade ago. We’re excited to partner with this incredible team as they build the future of data protection in a world where data is constantly in motion," claims Seyonne Kang, Partner at StepStone Group.
- The round also included participation from Schroders Capital, a London-based venture capital firm, and Industry Ventures, a San Francisco-based investment firm.
- Cyberhaven will use the new $100 million in Series D funding to expand its platform through a combination of mergers and acquisitions as well as internal product development.
- Additionally, the funding will support its broader mission to enhance data protection capabilities, enabling organizations to manage better and secure sensitive information in increasingly complex and fast-moving digital environments.
