Cyera agrees to acquire Oasis Security for about $1B

Data security company Cyera, which recently raised $600 million at a $12 billion valuation, said Tuesday that it has signed a letter of intent to acquire Oasis Security for approximately $1 billion. The letter of intent lays out preliminary terms ahead of a final agreement: the deal is expected to be paid mostly in cash, with the remainder in Cyera shares.

Oasis focuses on non-human identities, primarily AI agents. As the number of AI agents inside enterprise environments proliferates, companies increasingly need cybersecurity software that monitors these agents’ behavior and controls the permissions they are granted to access other software — access that, left unmonitored, can let an agent reach systems and data well beyond its intended scope. Founded in 2022, Oasis has raised about $195 million from Accel, Craft Ventures, Cyberstarts, and other investors.

The acquisition is the latest move in a broader spree for Cyera, which shares investors Accel and Cyberstarts with Oasis. The company has recently purchased Index Ventures-backed Ryft and Genie Security, a company less than a year old, adding both to its portfolio in quick succession before now moving on Oasis. Post-acquisition, Cyera plans to fold Oasis’s technology into a single, unified identity and data security platform, rather than run it as a separate product line alongside its existing tools.

Cyera’s own numbers show a company scaling fast but still unprofitable. It recently surpassed $150 million in annual recurring revenue, though the company remains far from profitable, TechCrunch reported last month. The five-year-old company has raised about $2.3 billion in total funding to date, a pace of fundraising and dealmaking that has made it one of the more aggressive consolidators in data and identity security, financing acquisitions even as its own bottom line stays in the red.

The deal highlights a surging market for cybersecurity providers defending enterprises against AI-weaponized threats. It also underscores how quickly the identity-security category has expanded beyond human accounts: Cyera’s acquisitions of Ryft, Genie Security, and now Oasis are all built around the same underlying shift, as AI agents take on more autonomous access inside corporate systems and vendors race to build tools that can monitor and govern that access.

Why it matters

The deal signals that identity security built for AI agents is consolidating quickly, with well-funded platforms folding point solutions like Oasis into broader suites as autonomous software agents proliferate inside corporate networks.