Cyera, a five-year-old security startup, may be worth $20B

Cyera, a five-year-old company that protects business data stored in the cloud, is reportedly planning to raise about $800 million. Sources told The Information that the deal would value the startup at $20 billion. That is up from $12 billion in June.

What changed

The Information reports that Cyberstarts, an investment firm, is expected to lead the round. A week earlier, the same outlet reported that Cyera was thinking about a new fundraise. Now there are reported figures: roughly $800 million raised, at a $20 billion value.

Why it matters

A company's valuation is what investors think it is worth. A jump from $12 billion to $20 billion in about five months shows strong investor interest. Cloud security means protecting the files, customer records and other information a business keeps on internet-based servers instead of its own computers.

Who it affects

Most directly, it touches businesses that store data in the cloud, which now includes many small and midsize firms. Money flowing into this field suggests that spending on data protection is likely to keep growing. Customers may see more tools and more competition over time.

What is not known yet

• The deal is not confirmed by Cyera or Cyberstarts in the material available.
• The final amount and value could change before anything is signed.
• No timing for the round has been reported.