Cyera, the data security company valued at $12 billion, signed a letter of intent to acquire Oasis Security, a startup that secures non-human identities such as AI agents, in a deal valued at about $1 billion. The deal was announced on July 28, 2026.
Cyera is expected to pay about $700 million in cash, with the rest in Cyera shares, according to Ynet. Neither company officially published the full terms.
The letter of intent is not a final agreement. Once a binding agreement is signed and closing conditions are met, Oasis is set to operate as an independent unit within Cyera, keeping responsibility for non-human identity security, while the two companies integrate their technology into a single identity and data security platform.
What Oasis built
Oasis was founded in 2022. Its platform finds and governs non-human identities, the service accounts, tokens, keys and AI agents that software uses to reach company systems and data. It identifies risks in how those identities are set up and applies protections in real time.
The number of such identities has grown as companies deploy AI agents that act on their behalf. Oasis said AI use at Fortune 500 companies rose 480% over six months. It also said a majority of its customers were Fortune 500 companies and that new annual recurring revenue grew fivefold year on year.
Brickman said that from the start the founders had expected non-human identities to become one of the main security problems of the AI era.
“While Cyera redefined data security, we redefined identities for the AI era.”
The founders and the funding
Oasis was founded by chief executive Danny Brickman and chief product officer Amit Zimerman, who met in the Israeli military's Unit 81 technology unit. Brickman served there for about 11 years as part of the Talpiot programme, and Zimerman for about seven.
On March 19, 2026, Oasis raised a $120 million Series B led by Craft Ventures, with existing investors Cyberstarts, Sequoia Capital and Accel taking part. The round brought its total funding to about $195 million and, according to Ynet, valued the company at $700 million. The Cyera price is therefore about 1.4 times that valuation, reached four months later. Accel and Cyberstarts are also investors in Cyera.
Why Cyera is buying
Cyera sells software that finds and protects sensitive data across a company's systems. Adding Oasis extends it from protecting data to controlling which people and machines can reach that data. Cyera said the combination would give organisations a complete view of which human and non-human identities have access to sensitive information.
Cyera chief executive Yotam Segev said the deal brings identity and data security into one platform for what he called the agentic enterprise. Brickman said that while Cyera had redefined data security, Oasis had redefined identities for the AI era.
The purchase would take Cyera beyond data security into protecting AI-based systems and machine identities. Segev said the AI era was changing the way organisations protect their information. Brickman said the two companies shared a view of where cybersecurity was heading and that the combination would let them get there faster and at a larger scale.
Globes had reported earlier in July that the two companies were in advanced talks.
A buyer with cash to spend
Cyera recently raised $600 million at a $12 billion valuation and has raised about $2.3 billion over its five years. TechCrunch reported that its annual recurring revenue had passed $150 million and that it was not yet profitable.
Oasis is Cyera's third acquisition of 2026, after Ryft, which was backed by Index Ventures, and Genie Security, a company less than a year old. Non-human identity security has become one of the fastest-growing parts of the cybersecurity market as companies give AI agents access to internal systems.
Because the deal was announced at the letter-of-intent stage, the price and the split between cash and shares had not yet been fixed in a binding agreement. The companies did not give a target date for closing, and Oasis's headcount was not disclosed.
