Goldman's $400 million extension of Cyera's Series G buys about 3.3% at June's price

A Series G extension prices on the terms of the original round, so the $12 billion set in June is unchanged, and $400 million at that mark buys about 3.3 percent of Cyera ^{[1][2][4][20]}. Goldman Sachs Alternatives is the buyer. Evolution Equity Partners led the round being extended ^[1][2].

The cash has arrived faster than the price has moved: $400 million in January at a $9 billion mark, $600 million in June at $12 billion, and $400 million now at $12 billion again ^[6][5][3]. The year's total is $1.4 billion against more than $2 billion raised since the company was founded in 2021. Close to 70 percent of everything Cyera has ever raised landed inside twelve months ^{[8][7][11][21]}.

Cyera said the money funds its AI security products, entry into the US federal market, and growth in EMEA and Asia-Pacific ^[15]. It employs more than 1,500 people across 18 countries, which at a $12 billion mark is under $8 million of valuation per head ^[12][22].

The product evidence for the agent thesis is specific. Agent Guardian and Cyera Endpoint track what happens between an agent receiving a prompt and returning a response, including the tool calls and the database queries ^[13]. The Oasis Security acquisition brought non-human identity management onto the platform, which is how Cyera joins a record of where sensitive data sits to a record of which identities can reach it ^[9][10]. Agents act on corporate identities without a person approving each query, and the controls most enterprises run were built around human employees and conventional applications ^[14].

"Global 2000 enterprises are telling us the same thing: they need to trust what AI agents can see and do before they can scale them," said Yotam Segev, Cyera's cofounder and CEO ^[16]. Irit Kahan, a managing director in Growth Equity at Goldman Sachs Alternatives, said that "Securing AI will be one of the defining categories in enterprise technology over the next decade" ^[17]. Both are describing a market in which they hold positions ^[18]. The report carries no revenue or customer figures for Cyera ^[19].

Allocation is one reading that fits the same facts: an investor who wanted more of June's round takes June's terms in September, and the unchanged price then tells you what the June documents said and nothing later. Or governing machine identities ends up a feature inside larger platforms, bought by vendors instead of funded as its own line by customers, and Cyera's purchase of Oasis shows the capability is for sale ^[9]. In my view allocation is what happened here, and June's $12 billion stays the live price until someone sets a different one. The test is the next mark. A raise above $12 billion within six months would say buyers are paying up for agent controls; a flat round, or a longer gap after $1.4 billion in eight months, would put June at the top of this cycle ^[8][23].