Cyera eyes $12B valuation at 80x ARR multiple despite operating losses

The $12 Billion Paradox: Growth, Losses, and the Cyera Phenomenon In the high-stakes arena of venture capital, few metrics spark as much debate as the valuation multiple. When a startup commands a premium that defies traditional financial gravity, it forces the market to reevaluate its assumptions about risk, reward, and the future of technology. In June 2026, data security pioneer Cyera has done exactly that, reportedly eyeing a staggering $12 billion valuation. What makes this figure truly...