Cyberhaven raises $88M to enhance data security solutions

TLDR:

Key Points:

• Cyberhaven secured $88M in funding to enhance its data security platform.
• The funding will help the company develop new products and expand its AI-based detection capabilities.

Article Summary

A former Nutanix and Palo Alto Networks executive leads Cyberhaven, a data security vendor that raised $88 million in Series C funding to strengthen its platform and enhance AI-based detection. The company aims to become a leader in the data security market by focusing on generative AI applications and databases. Cyberhaven plans to invest the funding in enhancing its detection capabilities using AI, extending its platform to include data in databases and AI applications, and expanding to additional types of data in various sectors like healthcare and manufacturing. The company also plans to integrate with other cybersecurity providers to strengthen data movement visibility and control. Cyberhaven’s key metrics include annual recurring revenue, cash burn, and client retention, with a focus on balanced growth and efficient spending. The recent funding round valued the company at $488 million, and Cyberhaven intends to increase its global revenue share within a year.