Cyera agrees to acquire Oasis Security for $1B to safeguard proliferating AI agents

Data security company Cyera, which recently came to the fore $600 million at a valuation of $12 billion announced Tuesday that it has signed a letter of intent to acquire Oasis Security for about $1 billion in a deal that is expected to be paid largely in cash, with the remainder paid in Cyera shares.

Oasis focuses on non-human identities, primarily AI agents. As the number of AI agents grows, companies must deploy cybersecurity software that monitors the behavior of these agents and allows them to access other software.

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

The deal highlights a growing market for cybersecurity providers that defend companies against AI-weaponized 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.