Cybersecurity startup Oasis Security has raised $120 million in a Series B funding round. The round was led by Craft Ventures, with participation from existing investors Cyberstarts, Sequoia Capital, and Accel.
With this new funding, the company’s total capital raised has reached $195 million.
“Cybersecurity is defined by how we protect against abnormal and risky events. In the era of AI, that definition is being reshaped by access,” said CEO Danny Brickman. “Every organization deploying AI agents is taking on access risks they can’t yet see.”
Over the past year, the company says it has seen strong growth, with its yearly recurring revenue increasing five times. Most of its customers are large enterprises, including many companies from the Fortune 500 list.
A big part of this growth has come from multi-year contracts, which shows that companies are using its technology as an important part of their core identity and access systems, not just as an extra tool.
Founded in 2022 by Danny Brickman and Amit Zimerman, Oasis builds a system it calls “agentic access management.” This system is designed for modern computing environments where machines and software programs need secure access, not just people.
According to data shared by Palo Alto Networks, machine identities now far outnumber human users, with about 82 machine identities for every one person.
This imbalance shows a weakness in current security systems, which were mainly designed to manage access for human users, not machines.
As companies use more AI agents, the number of systems asking for access to sensitive data and infrastructure is growing quickly, and it is often hard to track and manage.
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