Cyberhaven, a San Jose, CA-based company specializing in data detection and response (DDR), has raised $88 million in Series C funding.
Key Highlights:
- Funding Details:
- Amount Raised: $88 million
- Series: C
- Lead Investors: Adams Street Partners, Khosla Ventures
- Participating Investors: Redpoint Ventures, Costanoa Ventures, Vertex Ventures, Crane Venture Partners, Wing Venture Capital, Amol Kulkarni, Gerhard Eschelbeck, Ash Devata, and others.
- Board Addition: Fred Wang, Partner at Adams Street, will join Cyberhaven’s board of directors.
About Cyberhaven:
- Leadership:
- CEO: Howard Ting
- Company Overview:
- Specialization: AI-powered data security, focusing on data detection and response (DDR).
- Key Technology: Data lineage technology and foundational AI model that understands both content and context.
- Primary Focus: Protecting sensitive data such as intellectual property, source code, product designs, and customer records that traditional data loss prevention (DLP), insider risk, and data security posture management (DSPM) tools may fail to secure.
Strategic Impact of the Funding:
- Product Expansion:
- Enhancement of Offerings: The funds will be used to expand Cyberhaven’s product offerings, potentially introducing new features and capabilities to better protect sensitive data.
- Market Reach:
- Increased Reach: The company plans to use the funding to increase its market presence, targeting more organizations in need of robust data security solutions.
- Mission Continuation:
- Data Protection: Continues its mission to protect sensitive data by detecting and stopping critical insider threats.
Cyberhaven’s Unique Capabilities:
- Data Lineage Technology: Tracks the origin and movement of data within an organization, allowing for precise detection and response to data threats.
- AI-powered Security: Uses AI to understand workflows, classify sensitive information, and determine when data is at risk.
- Comprehensive Protection: Offers protection for data that is often missed by traditional security tools, ensuring a higher level of security for intellectual property and other critical information.
This significant investment underscores the importance and growing demand for advanced data security solutions in protecting sensitive information within organizations. Cyberhaven’s innovative approach to data security positions it well to address the evolving challenges in the cybersecurity landscape.
