The race to secure AI agents just produced its biggest deal yet. On July 28, 2026, Israeli data security unicorn Cyera announced it had signed a letter of intent to acquire fellow Israeli startup Oasis Security for approximately $1 billion. It’s a deal that, on its own, would be one of the largest acquisitions ever involving an Israeli cybersecurity startup—but it’s also the latest and largest move in an aggressive acquisition spree that’s rapidly repositioning Cyera as the company to beat in an entirely new corner of cybersecurity: protecting the identities of AI agents.
The Deal at a Glance
Under the terms of the agreement, the transaction is expected to be paid mostly in cash, with roughly $700 million coming in cash and the remainder in Cyera shares. If completed, Oasis would continue operating as a dedicated unit within Cyera, retaining responsibility for the non-human identity security field it built its reputation on.
The deal comes just weeks after Cyera closed a $600 million funding round at a $12 billion valuation, led by Evolution Equity Partners with participation from Temasek, Blackstone, Coatue, and Accel—bringing the company’s total funding raised to roughly $2.3 billion. That fresh capital appears to have gone almost immediately toward funding its largest acquisition to date.
What Oasis Security Actually Does
Oasis Security, founded in 2022, builds technology for managing and securing what the industry calls “non-human identities”—service accounts, tokens, digital keys, and increasingly, AI agents themselves. Its core product, described as an Agentic Access Management (AAM) platform, gives organizations visibility, control, and policy enforcement over these machine identities across their critical systems.
This is a rapidly growing and increasingly urgent problem. As companies deploy more AI agents and automated systems throughout their operations, those agents need credentials, permissions, and access to other software—creating an entirely new category of identity that traditional security tools, built around human logins, were never designed to manage. Oasis’s platform is built specifically to discover these non-human identities, flag security risks tied to them, and apply real-time protections.
Oasis was founded by CEO Danny Brickman and Chief Product Officer Amit Zimerman, who both previously served in the Israeli Defense Forces’ elite Unit 81 intelligence technology division—Brickman for roughly 11 years as part of the military’s Talpiot program, and Zimerman for about seven. The company has raised approximately $195 million to date, including a $120 million Series B round in March 2026 led by Craft Ventures, with participation from Cyberstarts, Sequoia Capital, and Accel, at a $700 million valuation.
Why Cyera Wants This Specific Capability
Cyera itself, founded in 2021 by CEO Yotam Segev and CTO Tamar Bar-Ilan (also both Talpiot and Unit 8200 veterans), has built its business around data security—understanding what sensitive data an organization has, where it lives, and who or what can access it. The company is estimated to generate more than $200 million in annual recurring revenue, and says it has tripled its ARR for three consecutive years, growing to more than 1,500 employees across 18 countries in the past 18 months alone.
The strategic logic behind acquiring Oasis is about connecting two halves of the same emerging problem. Cyera’s own framing is that the acquisition lets it unite data security and identity security onto a single platform, giving organizations meaningful control as they adopt AI more broadly. In practice, that means Cyera will be able to tell customers not just where their sensitive data lives, but which AI agents and machine identities can actually touch it—a combination that’s becoming essential as autonomous AI systems get embedded deeper into enterprise workflows.
Part of a Deliberate Acquisition Spree
The Oasis deal isn’t an isolated move—it’s the latest step in a clear pattern. Over the past two years, Cyera has acquired:
| Company | Estimated Deal Value | Focus Area |
|---|---|---|
| Trail Security (2024) | $162 million | Data loss prevention |
| Otterize (2026) | Undisclosed (tens of millions) | Identity/access |
| Shape AI (2026) | Undisclosed (tens of millions) | AI security |
| Ryft (April 2026) | ~$100–130 million | Early-stage security |
| Genie Security (May 2026) | ~$50 million | Security |
| Oasis Security (July 2026) | ~$1 billion | Non-human identity/AI agents |
One analysis of the deal put it plainly: Trail gave Cyera data loss prevention capability it had been missing, and Oasis now gives it identity—filling what had been one of the last visible gaps in Cyera’s broader security platform.
A Bigger Trend: AI Agent Security Is Now a Billion-Dollar Category
The size of the Oasis deal is itself a signal. It’s the second-largest cybersecurity M&A transaction of 2026 so far, trailing only Accenture’s roughly $3.2 billion acquisition of a majority stake in Dragos, and it lands within a year that has already seen more than 230 cataloged cybersecurity M&A deals. The fact that a company focused specifically on securing non-human identities and AI agents commanded a $1 billion price tag makes clear that the market now treats this category as a serious, standalone piece of enterprise security infrastructure—not a niche feature bolted onto existing identity tools.
That urgency tracks with where enterprise AI adoption is heading. As organizations deploy more AI agents capable of taking real actions inside their systems, the number of machine identities requiring credentials and permissions is expected to vastly outnumber human user accounts within many companies. Securing that expanding attack surface has quickly become one of the fastest-growing segments of the broader cybersecurity industry.
Is an IPO on the Horizon?
Cyera’s valuation trajectory adds another layer to this story. The company moved from a $3 billion valuation in late 2024, to $6 billion by mid-2025, to $9 billion in January 2026, and now $12 billion following its most recent raise. That kind of rapid, sustained valuation growth, combined with an aggressive string of platform-completing acquisitions, has led some industry observers to read the Oasis deal as part of a broader push to round out Cyera’s product platform ahead of either an eventual IPO or a sale to a larger strategic acquirer. Either path would benefit from Cyera being able to present a genuinely complete security platform rather than a data-security point solution with gaps.
Conclusion
Cyera’s $1 billion acquisition of Oasis Security is more than just another cybersecurity M&A headline—it’s a clear marker that securing AI agents’ identities has become one of the defining problems in enterprise security, serious enough to command a billion-dollar price tag on its own. By combining Oasis’s non-human identity expertise with its existing data security platform, Cyera is positioning itself to answer a question a growing number of enterprises are asking as they roll out AI agents at scale: not just where is our sensitive data, but what can actually touch it now that machines are doing more of the work.
