Cyberhaven, a leader in the field of data detection and response (DDR), has successfully raised $88m in its Series C funding round.
The round was prominently led by Adams Street Partners, LLC and Khosla Ventures, with substantial contributions from previous backers including Redpoint Ventures, Costanoa Ventures, Vertex Ventures, Crane Venture Partners, and Wing Venture Capital.
Noteworthy security experts such as Amol Kulkarni, Gerhard Eschelbeck, and Ash Devata also invested in this round.
The investment underscores a standout year for Cyberhaven, highlighted by a 200% increase in new bookings.
Cyberhaven is at the forefront of protecting the intellectual property that conventional data loss prevention (DLP), insider risk, and data security posture management (DSPM) tools often overlook. This includes critical data such as source code, product designs, and customer records. The company’s pioneering data lineage technology and AI model are designed not only to identify content but also to comprehend its context, enabling precise classification and protection of sensitive information.
Howard Ting, CEO of Cyberhaven, remarked, “We are thrilled to welcome Adams Street and Khosla Ventures to our mission of protecting the world’s top innovators, who are increasingly dependent on AI and data.
“Our groundbreaking data lineage technology has elevated the efficacy of our customers’ DLP and insider risk programs but we’re just getting started. This funding will enable us to rapidly expand our platform and grow the DDR category.”
Cyberhaven plans to utilize the fresh capital to expand its product range, enhance market penetration, and continue safeguarding the most sensitive data worldwide.
Fred Wang of Adams Street, a new member of Cyberhaven’s board, said, “Cyberhaven is addressing some of the most pressing challenges in data security today, particularly protecting IP from insider threats.
“Their innovative approach to tracking data lineage and applying AI to understand data and risk is transformative. We believe Cyberhaven is setting a new standard in the industry and are excited to support their continued growth and innovation.”
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