December 14, 2021

Celebrating Cyberhaven’s $33M Series B Funding Round

When I joined Cyberhaven as CEO in June of 2020, I was enamored with the company's mission to reinvent a critical part of the cybersecurity market — a particular segment that has caused security teams great pain and suffering for more than a decade. All my peers and colleagues whom I consulted before accepting the job agreed that data protection has failed for virtually every organization, and many questioned if it was a problem that could be effectively solved.

Today, I’m pleased to announce that Cyberhaven took a big step in our mission by raising $33M in an oversubscribed Series B funding round, led by Redpoint Ventures. We also brought on new investors Forgepoint Capital and Wing, and all of our existing major investors Vertex, Costanoa, and Crane participated. This financing brings the company’s total funds raised to $52M.

This funding validates the momentum and incredible need for the approach to data protection that Cyberhaven has pioneered. Organizations naturally need to protect their intellectual property and sensitive data, yet recent high-profile breaches at Pfizer, Electronic Arts, Twitch, and Facebook show that existing security tools are failing dramatically. Cyberhaven offers a data protection solution that works reliably across datasets and exfiltration channels that are growing more expansive and sophisticated every day.

Cyberhaven takes a radically different approach and lets organizations solve problems and protect data in ways that were never possible before. Our industry-first Data Detection and Response (DDR) platform brings together data lineage and large-scale graph analytics to automatically identify sensitive data and accurately detect and stop threats. Across the 200+ customers I’ve met since I joined Cyberhaven last year, the overwhelming consensus is that data protection is a massive challenge and that our approach is highly innovative and unique.

What this funding means for our current and future customers

One of the core design principles that Cyberhaven is built on is to provide the broadest coverage of sensitive data while recognizing and respecting the ways that users do their work. This requires innovation on multiple fronts, both on endpoints and in the cloud. Deep insight into activity on endpoints is critical in order to see how data is manipulated and transformed and to ensure that policies remain effective even when data is encrypted. However, this deep analysis and subsequent protections must be delivered without disrupting business and user workflows and without degrading the performance or availability of business applications. Cyberhaven already provides a unique combination of lightweight endpoint footprint with the industry’s deepest endpoint analysis, and this funding allows us to accelerate more innovations in this area.

At the same time, modern data protection must retain visibility and context of data in the cloud. Once again, this is an area where Cyberhaven has already made major strides that will be greatly enhanced by this latest round of funding. We will continue to extend integrations to leading cloud and SaaS services to ensure that organizations have a truly complete view of all their data across the extended enterprise.

Another theme that I hear consistently from customers is the need to automate more of their data protection program. We have already raised the bar significantly in the industry with our ability to automatically classify data based on lineage and stitch together events across all applications and devices, but there’s much more we can do. Imagine a world where the data protection policy is not declared by an admin at the time of discovery but inferred from the DDR platform at the time of creation. This is another breakthrough idea we’re working on, which this funding will enable us to make real for customers in the next 12 to 18 months.

Lastly, this funding will ensure that we raise our game in customer support so that every organization using Cyberhaven derives maximum value from the platform.

What this funding means for our current and future employees

When Vova, Radu, Cristi, Vitaly, and George founded Cyberhaven out of the famed research university EPFL in Lausanne, Switzerland, the mission was simpler but no less ambitious: to solve the world’s most difficult security problems. From those early roots, we’ve assembled a world-class team of builders who are inspired every day by the responsibility we have to our customers and the industry at large.

Cyberhaven has a unique opportunity to change the course of digital business by ensuring that companies that invent IP can fully benefit from it, that their brands will not be tainted by a loss of trust due to a breach, and that their organizations will remain resilient against growing cyberattacks. Our vision today is perfectly aligned to the original founders’ mission, and this funding round is a big milestone in the company journey that recognizes the technical depth and market momentum we have established.

While this funding serves as terrific validation of the work done by everyone at Cyberhaven, it also raises the expectations of what we can and will deliver in the years to come in terms of feature velocity, product quality, and revenue acceleration. I am extremely proud of the team’s achievements, grateful for their unshakeable commitment, and excited about the possibilities ahead.

Join us as we fearlessly pursue these ambitious goals to define the future of enterprise data protection. We’re actively hiring across design, development, product, devops, and GTM teams — reach out today to learn more!

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