StepStone Drives Cyberhaven's $100M Series D Funding
Deal News | Apr 14, 2025 | CEE Legal Matters
Orrick, a legal advisory firm, has guided StepStone in leading a USD 100 million Series D funding round for Cyberhaven, an AI-powered data security company based in Palo Alto. Other participants in this funding round include Schroders and Industry Ventures. Cyberhaven, founded by Romanians Cristian Zamfir, George Candea, and Radu Banabic along with Ukrainians Volodymyr Kuznetsov and Vitaly Chipounov, plans to utilize the funds to enhance its platform via mergers and acquisitions, organic innovation, and increase its market reach through strategic investments. The effort was led by Orrick Partner Shawn Atkinson.
Sectors
- Private Equity
- Data Security
- Legal Advisory
Geography
- United States – Relevant as Cyberhaven is based in Palo Alto, CA.
- Romania – Relevant as some of Cyberhaven's founders are Romanian.
- Ukraine – Relevant as some of Cyberhaven's founders are Ukrainian.
Industry
- Private Equity – Relevant due to StepStone's involvement as a private markets firm facilitating investments.
- Data Security – Pertinent to Cyberhaven's role as an AI-powered data security company.
- Legal Advisory – Orrick's role as legal advisor in the funding round.
Financials
- USD 100 million – The amount raised in the Series D funding for Cyberhaven.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| StepStone | Lead Investor | Company | A private markets firm providing investment, portfolio monitoring, and advisory services. |
| Cyberhaven | Target Company | Company | A Palo Alto-based AI-powered data security company. |
| Schroders | Investor | Company | A participant in Cyberhaven’s Series D funding. |
| Industry Ventures | Investor | Company | A participant in Cyberhaven’s Series D funding. |
| Orrick | Legal Advisor | Company | Advised StepStone on the funding round. |
| Shawn Atkinson | Legal Advisor | Person | Orrick partner leading the advisory team. |