Silicon Valley data security startup Cyberhaven has bagged a hefty $100 million in new financing that values the company at $1 billion, a sign that investors remain bullish on companies building AI-powered enterprise security tooling.
The Palo Alto- based company said the Series D was provided by StepStone, Schroders and Industry Ventures and brings the total raised to $250 million.
Cyberhaven and its investors are betting big on a data detection and response platform designed to help organizations track and protect sensitive data. The company is pitching an AI-powered product that can help customers stop data exfiltration, understand data flows, train users on risky behavior in real time, and accelerate internal investigations.
The Cyberhaven portfolio also includes an autonomous AI agent designed to combat insider risks.
The company’s approach centers on “data lineage,” a method that maps the journey of data across an organization, providing real-time insights into the origins, transformation and flow of corporate data.
Lead investor StepStone likened the Cyberhaven technology to the creation of the EDR (Endpoint Detection and Response) category to replace outdated antivirus software.
“Just as EDR revolutionized endpoint security by focusing on behavior rather than signatures, Cyberhaven’s Data Detection and Response approach is redefining data security by applying AI-based behavioral analysis to data,” said StepStone partner Seyonne Kang.
Cyberhaven said the plan is to use the new funding on product development, market expansion, and targeted acquisitions.
Related: Cyberhaven Chrome Extension Hack Linked to Widening Supply Chain Campaign
Related: Data Security Firm Cyberhaven Raises $88 Million at $488 Million Valuation
Related: Cyberhaven Raises $13 Million in Series A Funding
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