Cyera, the Israeli-founded data security unicorn valued at $12 billion, has agreed to buy Oasis Security for roughly $1 billion, a deal that makes clear the market now treats AI agent identity as a category worth fighting over.
The deal, reported by Calcalist and confirmed across multiple outlets, pairs $700 million in cash with the remainder in Cyera shares. Oasis, founded in 2022 by CEO Danny Brickman and CPO Amit Zimerman, both veterans of IDF intelligence unit 81, had raised about $195 million total, including a $120 million Series B led by Craft Ventures. It will operate as an independent unit inside Cyera after the close.
What Oasis actually does is worth understanding in concrete terms, because the category sounds abstract until you look at the numbers. Non-human identities - service accounts, API keys, OAuth tokens, AI agent credentials - already outnumber human users by roughly 10 to 1 in cloud-native organizations, according to Oasis's own state-of-NHI report. Most of them are unmanaged. Only 12% of organizations told Oasis researchers they were highly confident in their ability to stop attacks through those channels. Autonomous AI agents make this worse by spinning up their own identities as they work, expanding the attack surface without anyone explicitly deciding to do so.
Cyera's pitch is that data security and identity security have to be solved together. You can know exactly where your sensitive data lives and still lose it the moment a poorly permissioned AI agent gets compromised. That argument is easier to make now than it was eighteen months ago, when most enterprises were still running pilots. Today they're deploying agents at scale, and their security teams are scrambling to keep up.
This is Cyera's second major acquisition in under a year. In October 2024 the company paid $162 million for Trail Security, an Israeli data loss prevention startup that had been operating in stealth and had raised just over $35 million from Lightspeed and CRV. Trail gave Cyera a DLP capability it had been missing; Oasis gives it identity. The progression is deliberate. Cyera raised $600 million in June 2026 at that $12 billion valuation, with Evolution Equity Partners leading and Temasek, Blackstone, Coatue, and Accel joining. That round brought total funding to roughly $2.3 billion. At that pace, you don't stay private much longer without a clear story about what you're building toward, and the Oasis deal fills in the last visible gap in the platform.
The IPO question is real. Cyera's valuation has moved from $3 billion in late 2024 to $6 billion in mid-2025 to $9 billion in January 2026 to $12 billion now. That trajectory is either a run-up to a public offering or an eventual sale to a strategic buyer. Either way, the platform needs to be complete enough to stand on its own, and an acquirer or public investor wants to see data security, DLP, and identity under one roof. That's what the Trail and Oasis deals are building.
For anyone watching the Israeli cybersecurity ecosystem, none of this is surprising. Brickman and Zimerman come from unit 81, which focuses on technology development inside Israeli military intelligence. Cyera's own founders, Yotam Segev and Tamar Bar-Ilan, have similar backgrounds. The corridor from elite intelligence units to well-funded security startups in Tel Aviv is the shortest one in the industry, and it keeps producing companies that sell to the biggest enterprises in the world within three or four years of founding.
Why non-human identity security is the next crowded market #
Frankly, the Oasis acquisition is less interesting as a single deal than as a signal about where the next spending fight is going. CrowdStrike, SentinelOne, Wiz, Palo Alto Networks - all of them are circling identity. Non-human identity hasn't had a clear market leader yet, which is exactly why a well-capitalized buyer like Cyera moves now rather than later. Once Palo Alto or CrowdStrike decides to own this space, the acquisition price goes up and the options shrink.
Cyera's bet is that the right moment to consolidate is while the category is still being defined, before the big platforms price everyone else out. Trail was a $162 million bet on that thesis. Oasis is a $1 billion one. The size of the second bet tells you how confident Cyera is that the thesis is working.
Whether Cyera can actually integrate two major acquisitions while also scaling a platform that now spans DSPM, DLP, identity and agentic security is the operational question no press release answers. The market gets to decide that one.
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