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 about $1 billion. The transaction is expected to be paid mostly in cash, with the remainder being paid in Cyera stock.
Oasis focuses on non-human identities, primarily AI agents. As the number of AI agents proliferates, companies will need to deploy cybersecurity software that monitors the behavior of these agents and grants them access to other software.
Oasis, founded in 2022, has raised about $195 million from Accel, Craft Ventures, Cyberstarts and other investors.
The deal highlights the burgeoning market for cybersecurity providers protecting businesses from AI weapons threats.
Cyera, which shares Oasis with Accel and Cyberstarts as investors, has recently been on a mergers and acquisitions spree, including acquiring Index Ventures-backed Ryft and Genie Security, which was founded less than a year ago.
Following the acquisition, Cyera plans to integrate Oasis’ technology into its unified identity and data security platform.
Cyera recently surpassed $150 million in annual recurring revenue (ARR), but is far from profitable, TechCrunch reported last month. The five-year-old company has raised approximately $2.3 billion in total funding.
