Cyera agrees to acquire Oasis Security for $1 billion to protect deployed AI customers

Data security company Cyera, which recently raised $600 million at a $12 billion valuation, announced Tuesday that it has signed a letter of intent to acquire Oasis Security for roughly $1 billion in a deal that is expected to be paid mostly in cash, and the rest in Cyera stock.

OASIS focuses on non-human identities, primarily artificial intelligence agents. As the number of AI agents increases, companies must deploy cybersecurity software that monitors the behavior of these agents and gives them permission to access other programs.

Founded in 2022, Oasis has raised about $195 million from Accel, Craft Ventures, Cyberstarts, and other investors.

The deal highlights the growing market for cybersecurity providers that defend companies against AI weapon threats.

Cyera, which shares investors Accel and Cyberstarts with Oasis, has been on an acquisition spree, recently buying Index Ventures-backed Ryft and less than a year old Genie Security.

Following the acquisition, Cyera plans to integrate Oasis’ technology into a unified identity and data security platform.

Although Cyera recently surpassed $150 million in annual recurring revenue (ARR), the company is far from profitable, TechCrunch reported last month. The five-year-old company has raised about $2.3 billion in total funding.