A cybersecurity startup called Cyera is betting that the next big challenge in enterprise data protection will be AI, and it’s raising a big round of funding as demand picks up for it.

The company — which builds AI-enhanced tools to create accurate pictures of where and how data is being used in organizations’ networks — is close to finalizing a round of nearly $300 million, tripling its valuation to $1.5 billion in the process, according to sources very close to the deal. Storied venture firm Coatue is leading the round of funding, say the sources.

The deal is expected to be complete in early April. It’s not clear which other investors are participating in this round. Previous to this, Cyera — pronounced “Sierra” and headquartered in San Mateo and with roots in Israel — had raised a total of $160 million with its current $500 million valuation dating from last year.