Cyera, a leading data security company that recently secured $600 million in funding at an impressive $12 billion valuation, announced on Tuesday its intent to acquire Oasis Security for approximately $1 billion. The transaction is anticipated to be predominantly settled in cash, with the remainder paid in Cyera shares.
Oasis Security specializes in the critical area of non-human identities, particularly focusing on AI agents. As the proliferation of artificial intelligence agents continues to accelerate, organizations are increasingly compelled to implement robust cybersecurity software designed to monitor these agents' behaviors and meticulously manage their access permissions to various other software systems.
Founded in 2022, Oasis has successfully raised approximately $195 million from a distinguished group of investors, including Accel, Craft Ventures, and Cyberstarts.
This significant acquisition underscores the burgeoning market demand for cybersecurity providers equipped to defend enterprises against sophisticated threats increasingly empowered by artificial intelligence.
Cyera, which shares common investors such as Accel and Cyberstarts with Oasis, has been actively pursuing an aggressive acquisition strategy. Its recent purchases include Ryft, a company backed by Index Ventures, and Genie Security, a nascent startup less than a year old.
Post-acquisition, Cyera's strategic plan involves seamlessly integrating Oasis's specialized technology into its unified identity and data security platform, enhancing its comprehensive offerings.
Despite Cyera's recent achievement of surpassing $150 million in annual recurring revenue (ARR), the five-year-old company is not yet profitable, as reported by TechCrunch last month. To date, Cyera has accumulated approximately $2.3 billion in total funding.
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