AI Security Startup Cyberhaven Raises $88 Million

AI data-security startup Cyberhaven Inc. said it had raised $88 million in a funding round that values the company at $488 million, showing that companies benefitting from the AI boom can still pull in cash at big mark-ups to previous rounds.

The financing comes at a time when many startups are struggling to raise cash. Last quarter, venture capitalists spent just $36.56 billion to fund 2,882 deals, about half as much cash as two years earlier, and completed about one quarter fewer transactions, according to PitchBook data.

In Cyberhaven’s case, the company taps into growing concerns around cybersecurity, exacerbated by AI-related threats. ...