On October 17, 2024, Cyera, a New York-based data security startup, acquired Trail Security, a data loss prevention company, for $162 million. This acquisition signifies Cyera's focus on enhancing data security amid a slow market for mergers and acquisitions. Cyera offers a platform that helps security teams monitor data usage and secure sensitive information, which is important for companies engaged in AI projects. The company employs AI for risk assessment related to data security, privacy, and regulatory compliance. In 2023, Cyera raised $300 million in a Series C funding round, increasing its valuation to $1.4 billion. The startup seeks to raise at least $200 million with a projected pre-money valuation of $3 billion. Since its founding in 2021, Cyera has raised about $465 million. In the cybersecurity sector, there have been 67 merger and acquisition deals involving venture capital-backed startups in 2024, surpassing last year's total of 58 and potentially exceeding the 84 deals from 2022. The largest deal in 2024 is Mastercard's acquisition of Recorded Future for $2.65 billion.

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