Cyera, an AI-powered data security firm, has completed the acquisition of Trail Security, a data loss prevention firm, for $162m.
This acquisition signifies a critical development for Cyera, a three-year-old cybersecurity unicorn now valued at over $1.4bn, as it continues to broaden its AI-driven offerings.
The purchase allows Cyera to incorporate Trail’s advanced DLP technology with its own Data Security Posture Management (DSPM) platform, resulting in the market’s first Unified Data Security Platform. This strategic move positions Cyera to reshape the $2bn DLP market, which is projected to grow to $21bn by 2034.
Cyera is renowned for its DSPM platform and has recently expanded its services to include identity modules and a data breach readiness service. Trail Security, on the other hand, has been a notable player in the Series A stage, backed by over $35m from prominent VCs such as Lightspeed Ventures, CRV, and Cyberstarts. The company has been critical in advancing AI-enhanced DLP technologies.
The integration of Trail’s technology into Cyera’s platform not only enhances its data security capabilities but also supports Cyera’s aim to offer comprehensive solutions that address the growing data security challenges associated with AI and cloud technologies.
The merger is underpinned by a shared history and mutual respect, with leadership teams from both companies having participated in Israel’s prestigious Talpiot program. This shared background is expected to facilitate a seamless integration of company cultures and technological expertise.
“The acquisition of Trail is a pivotal step in Cyera’s journey to reshape the future of data security,” Yotam Segev, CEO and Co-Founder of Cyera said. “Cyera is determined to consolidate the siloed data security space and enable enterprises to navigate the growing data security challenges around AI and cloud. The addition of Trail is a huge leap forward in making this a reality for our customers, disrupting the entire data security space. Natively coupling DSPM with DLP gives every customer the crucial opportunity to build successful data security.”
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