Data security firm Cyera has agreed to acquire Oasis Security for a hefty $1 billion, with plans to merge the companies' technologies into a single unified platform. As AI agents become increasingly common in corporate environments, cybersecurity measures need to evolve accordingly.
Oasis was founded in 2022 and focuses specifically on non-human identities, which is crucial as the number of AI entities grows exponentially. The acquisition highlights the emerging market for cybersecurity solutions that can handle the unique challenges posed by artificial intelligence.
Both Cyera and Oasis share investors like Accel and Cyberstarts, and this deal follows a series of acquisitions by Cyera, including Index Ventures-backed Ryft and Genie Security. Post-acquisition, Cyera will integrate Oasis’s technology to bolster its identity and data security offerings.
Despite posting over $150 million in annual recurring revenue, Cyera remains far from profitability, according to TechCrunch. With this acquisition, the company aims to solidify its position as a leader in the fast-growing cybersecurity space.
