Cyberhaven has successfully raised $48.5 million over three funding rounds, with the latest being a Series B in November 2021. The company specializes in data security solutions, offering products like Data Detection and Response, Data Loss Prevention, and Insider Risk Management.
Keep reading to explore the intricacies of Cyberhaven's fundraising journey and the investors backing this innovative platform.
What Is Cyberhaven?
Cyberhaven, founded by Volodymyr Kuznetsov, Radu Banabic, Vitaly Chipounov, George Candea, and Cristian Zamfir, is a data security company based in San Jose. Established to trace and protect data, Cyberhaven offers solutions like Data Detection and Response, data loss prevention, and insider risk management.
With a team of 51-200 employees, Cyberhaven focuses on safeguarding organizational data from theft or misuse. Their technology ensures that valuable information such as source code, product designs, and customer records remain secure.
Cyberhaven's innovative approach to data security has positioned them as a leader in the industry, providing comprehensive solutions that outperform traditional tools. For more information, visit their official website or explore career opportunities on their Wellfound page.
How Much Funding Has Cyberhaven Raised?
- Seed Round
- Amount Raised: $2,500,000
- Date: July 2016
- Lead Investors: Accomplice VC
- Motivation Behind the Round: To support initial product development and market research.
- Series A
- Amount Raised: $13,000,000
- Date: December 2019
- Lead Investors: Vertex Ventures, Costanoa Ventures
- Motivation Behind the Round: To launch its first product based on a DARPA project, using Data Behavioral Analysis (DaBA) to identify intrusions and theft of Intellectual Property (IP).
- Series B
- Amount Raised: $33,000,000
- Date: November 2021
- Lead Investors: Redpoint Ventures, Costanoa Ventures, Vertex Ventures
- Motivation Behind the Round: To transform the stagnant and ineffective data protection market.
Total Amount Raised: $48.5 million
Current Valuation: Not specified
Key Investors
- Redpoint Ventures
- Details: Redpoint Ventures has been partnering with visionary founders to create new markets and redefine existing ones since 1999. They invest in startups across the seed, early, and growth phases.
- Investment Focus Areas: Technology, consumer internet, enterprise software
- Notable Investments: Snowflake, Looker, Twilio
- Forgepoint Capital
- Details: Forgepoint Capital is known for investing in cybersecurity and infrastructure software companies. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Cybersecurity, infrastructure software, enterprise software
- Notable Investments: 1Kosmos, AppOmni, Bishop Fox
- Vertex Ventures US
- Details: Vertex Ventures US focuses on early-stage investments in enterprise and consumer technology sectors. They are part of a global network of funds.
- Investment Focus Areas: Enterprise technology, consumer technology, healthcare
- Notable Investments: LaunchDarkly, PerimeterX, Very Good Security
- Costanoa Ventures
- Details: Costanoa Ventures invests in early-stage technology companies, particularly in enterprise software. They aim to support founders through the early stages of company building.
- Investment Focus Areas: Enterprise software, fintech, data infrastructure
- Notable Investments: Alation, Intacct, Quizlet
- Crane Venture Partners
- Details: Crane Venture Partners is known for investing in early-stage enterprise software companies. They focus on supporting founders with deep technical expertise.
- Investment Focus Areas: Enterprise software, SaaS, AI
- Notable Investments: Tessian, Onfido, Hadean
What's Next for Cyberhaven?
Cyberhaven stands at the cusp of a significant opportunity, poised to disrupt the traditional data protection market with its Data Detection and Response (DDR) platform. The company targets enterprises across various sectors, including technology, manufacturing, and healthcare, offering solutions that address the limitations of traditional tools like DLP and CASB. With the data protection market costing the US economy an estimated $600 billion annually due to breaches, Cyberhaven's innovative approach has the potential to capture a substantial share of this market.
As Cyberhaven continues to scale, future fundraising opportunities seem promising. The successful Series B round, backed by high-profile investors, indicates strong market confidence. This financial support will be crucial as the company navigates challenges such as competition from established vendors and the need for continuous innovation to stay ahead of evolving cyber threats. With a 5x increase in Annual Recurring Revenue (ARR) over the past year, Cyberhaven's growth trajectory appears robust, setting the stage for potential future funding rounds or even strategic acquisitions.
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