Today we’re announcing an additional $26M in funding with existing investors, Costanoa Ventures, Redpoint, A.Capital and a strategic investment from Silicon Valley CISO Investments (SVCI). Cyral’s total funding is now $41.1 million, and we are laser focused on solving the quickly growing cloud data security challenges as companies have embraced data democratization.
We’re now working with customers across a variety of industries – finance, healthcare, insurance, supply chain, technology and more. They include some of the world’s largest organizations with complex environments and some of the fastest growing tech companies to help provide them with a unified approach to data security and governance across all data services such as S3, Snowflake, MongoDB, Oracle and more.
In the most recent Gartner Hype Cycle for Identity and Access Management Technologies, it highlights: “There is further need for more advanced tools to manage the increasing number and granularity of entitlements in hybrid and multicloud environments.” Cyral is the first company to deliver a data security and governance solution built for the modern data cloud and the DevOps-first world and we are excited about the future.
One of our investors, Greg Sands and Casey Aylward of Costanoa Ventures, has written a blog on “Security and Governance for the Data Cloud: Our Investment in Cyral” where he discusses how companies are becoming more data driven, being fueled by the skyrocketing use of data lakes and data warehouses. He sees a substantial new challenge for companies protecting data, their most precious resource, as it is becoming more and more accessible. This is why he was excited to invest in our vision.
I’d like to send a personal thanks to our global and remote-first team here at Cyral. We have built a great place to work through a very challenging environment. Their resiliency and passion to succeed is inspiring. I also want to extend our gratitude to our many tech savvy customers and to all of our investors who have validated our vision for data security and governance.
We have come a long way from when we founded the company, but our journey is only beginning. In this next stage we will be scaling our Go-To-Market and fueling further product development. We will invest in sales, marketing, partnerships and continue to expand our world class R&D team to develop new features for our award winning product. Most importantly, we will continue to invest in our customers’ success and make data security and governance simple for them.