AI security company Cyera agreed to acquire Oasis Security for $1 billion

PANews, July 29 — According to TechCrunch, on Tuesday AI data security company Cyera announced that it has signed a letter of intent to acquire Oasis Security for about $1 billion. The transaction is expected to be paid mainly in cash, with the remainder paid in Cyera shares. Cyera recently completed a $600 million funding round at a valuation of $12 billion.

Oasis focuses on non-human identity security such as AI agents. Founded in 2022, it has raised approximately $195 million in total, with investors including Accel, Craft Ventures, Cyberstarts, and others. Cyera and Oasis share some investors. Recently, Cyera has made successive acquisitions of Ryft and Genie Security. After the acquisitions, Cyera plans to integrate Oasis’s technology into a unified identity and data security platform. Cyera has annual recurring revenue of more than $150 million, but it is still far from profitable. Founded five years ago, it has raised cumulative funding of about $2.3 billion.