Data security company Cyera has agreed to acquire identity security startup Oasis Security in a deal valued at approximately $1 billion, expanding its capabilities as enterprises look to secure a growing number of AI agents.
Cyera announced Tuesday that it had signed a letter of intent to purchase Oasis Security. The transaction is expected to be funded primarily with cash, while the remaining portion will be paid in Cyera shares.
Founded in 2022, Oasis Security specialises in protecting non-human identities, including AI agents. As businesses deploy more autonomous software systems, demand is increasing for tools that monitor how those agents behave and control what applications and data they are allowed to access.
Oasis has raised roughly $195 million from investors including Accel, Craft Ventures and Cyberstarts.
The acquisition reflects the growing focus on cybersecurity products designed to address AI-driven threats as organisations expand their use of autonomous systems.
Cyera has been actively expanding through acquisitions. In recent months, the company acquired Ryft, which was backed by Index Ventures, along with Genie Security, a startup that was less than a year old at the time of its purchase.
Following the transaction, Cyera plans to integrate Oasis Security’s technology into a unified platform combining identity security and data protection.
The acquisition comes shortly after Cyera raised $600 million at a $12 billion valuation. The five-year-old cybersecurity company has now raised about $2.3 billion in total funding and recently surpassed $150 million in annual recurring revenue.
Despite its rapid growth, Cyera has not yet reached profitability as it continues investing in expansion and acquisitions aimed at strengthening its position in the fast-growing AI cybersecurity market.
