AI-powered data security company founded by Romanians reaches USD 1 billion valuation
<p>Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD 1 billion.</p>
<p>Cyberhaven offers data tracing and risk detection capabilities, powered by its proprietary data lineage and foundational AI technologies. This allows companies to prevent critical risks to their data. This latest investment brings Cyberhaven's total funding to USD 250 million and propels the company to a USD 1 billion valuation, a sevenfold increase in just one year, according to the company press release.</p>
<p>The California-based company was founded by three Romanians, namely Radu Banabic, Cristian Zamfir și George Candea, and two Ukrainians, Volodymyr Kuznetsov and Vitaly Chipounov, according to <a href="https://www.zf.ro/business-hi-tech/ultima-ora-unicorn-tehnologie-origini-romanesti-cyberhaven-startup-22762549">Ziarul Financiar</a>.</p>
<p>"We are building the data security platform to tackle the most difficult challenges facing enterprise security teams with a fundamentally new approach," said Howard Ting, CEO of Cyberhaven.&nbsp;</p>
<p>Cyberhaven insists that traditional security tools cannot effectively track or protect data in the new environment defined by AI and cloud technologies. “Data is no longer confined to files; instead, it's highly fragmented and constantly moving—spreading across endpoints, cloud platforms, and AI systems in ways that traditional security tools cannot effectively track or protect. As data transforms and flows between applications, the risk of sensitive information being exposed or misused increases exponentially,” the press release states.</p>
<p>To offer protection in this new technological environment, Cyberhaven uses a proprietary AI model, a Large Lineage Model or LLiM, to establish data lineage, effectively tracing how data originates, moves, and transforms.&nbsp;</p>
<p>"We're witnessing a paradigm shift in data security similar to Endpoint Detection and Response a decade ago," said Seyonne Kang, Partner at StepStone Group. "Just as EDR revolutionized endpoint security by focusing on behavior rather than signatures, Cyberhaven's Data Detection and Response approach is redefining data security by applying AI-based behavioral analysis to data,” she added.</p>
<p>The company intends to use the USD 100 million funding to expand its platform through both M&amp;A and organic innovation, increase its market reach through aggressive go-to-market investments, and continue its mission to protect the world's most sensitive data. ‍</p>
<p><em><a href="mailto:radu@romania-insider.com">radu@romania-insider.com</a></em></p>
<p><em>(Photo source: company press release)</em></p>