The Cyera Oasis Security acquisition, announced Tuesday via a signed letter of intent, will hand data security firm Cyera a specialist in non-human identity management for approximately $1 billion, paid mostly in cash with the remainder in Cyera shares. Calcalist estimates the cash portion at around $700 million, though Cyera has not officially confirmed the split.
The deal is expected to close later in 2026, according to the Wall Street Journal.
What Oasis Security Actually Does
Founded in 2022 by Danny Brickman and Amit Zimerman, Oasis Security focuses on non-human identities: the AI agents, service accounts, and automated processes that are rapidly multiplying inside enterprise environments. As companies deploy more AI agents, something has to monitor their behaviour, control what software they can access, and flag when something looks off. That is the gap Oasis fills.
The company raised a $120 million Series B in March 2026, led by Craft Ventures with participation from Cyberstarts, Sequoia Capital, and Accel, according to its official announcement. A Newswire press release confirmed that round brought Oasis’s total funding to about $195 million. Post-acquisition, Oasis is expected to operate as an independent unit within Cyera, per KuppingerCole’s analysis, with its technology eventually integrated into a unified identity and data security platform.
The urgency here has a number behind it. Cyera’s own press release cites research showing that in 2026, 68% of organisations cannot distinguish between human activity and AI agent activity inside their own systems. That visibility gap is what Cyera, and now Oasis, are selling solutions to close.
Cyera’s Cyera Oasis Security Acquisition in a Fast-Moving Market
The timing is not accidental. Six weeks before this deal, SailPoint announced its acquisition of Entro Security for approximately $200 million, another non-human identity management play, according to KuppingerCole. Cyera is moving at a different scale entirely, but the direction of travel is the same: traditional identity and access management was built for humans with passwords, and enterprises are now scrambling to retrofit security for agents that have neither.
Cyera’s growth trajectory has been steep. SecurityWeek reports its valuation quadrupled between late 2024 and early 2026: a $300 million Series D in late 2024 valued the company at $3 billion; a Series E in June 2025 raised $540 million at a $6 billion valuation; and a $400 million Series F in January 2026 pushed that to $9 billion.
Then, on 10 June 2026, came the $600 million Series G at a $12 billion valuation. That round was led by Evolution Equity Partners, with participation from Singapore’s state investor Temasek and Cyberstarts, alongside existing backers Accel, AT&T Ventures, Blackstone, and Coatue, according to Cyera’s official press release and Reuters.
Accel and Cyberstarts appear on both the Cyera and Oasis cap tables, which makes the logic of this deal legible from multiple angles.
Plenty of Revenue, Not Yet Profitable
Cyera has surpassed $150 million in annual recurring revenue and raised about $2.3 billion in total funding across its five-year life. The company is not profitable, TechCrunch reported last month. Buying a two-year-old startup for $1 billion while running a loss is the kind of move that looks either visionary or expensive depending on how the AI agent market shakes out.
Cyera has been acquisitive of late. Before Oasis, it purchased Ryft, backed by Index Ventures, and Genie Security, a company less than a year old at the time of the deal. Each acquisition has added a capability layer rather than revenue scale, which suggests Cyera is assembling a platform story ahead of whatever comes next, whether that is an IPO or a strategic sale.
The letter of intent is signed. The clock is running on the close, expected later this year. Whether the combined entity can actually deliver on the unified platform promise is the question that will follow Cyera well past the deal announcement.
