Cyera Acquires Oasis Security for $1 Billion

Cyera Acquires Oasis Security for $1 Billion

Cyera, a company specializing in data security, announced on Tuesday that it has signed a letter of intent to acquire Oasis Security for approximately $1 billion. This transaction will be primarily settled in cash, with a portion in Cyera stock. The announcement came after Cyera raised $600 million, bringing its valuation to $12 billion.

Founded in 2022, Oasis Security focuses on protecting non-human identities, particularly artificial intelligence (AI) agents. With the proliferation of these agents, companies are increasingly faced with the need to deploy cybersecurity solutions capable of monitoring and managing access permissions for these entities.

The agreement between Cyera and Oasis Security highlights the rapid expansion of the cybersecurity provider market, which seeks to protect businesses from potential threats posed by AI. Oasis has raised approximately $195 million from investors such as Accel, Craft Ventures, and Cyberstarts.

Cyera, which shares investors like Accel and Cyberstarts with Oasis, has recently acquired other companies, including Ryft, backed by Index Ventures, and Genie Security, which is less than a year old. Following the acquisition of Oasis, Cyera plans to integrate its technology into a unified identity and data security platform.

Although Cyera has surpassed $150 million in annual recurring revenue, the company is not yet profitable, as reported by TechCrunch last month. Since its founding five years ago, it has raised approximately $2.3 billion.