Data security company Cyra, which recently raised $600 million At a valuation of $12 billion, it announced on Tuesday that it has signed a letter of intent to acquire Oasis Securities for approximately $1 billion, which will be paid mostly in cash, with the remainder in Cyra shares.
Oasis focuses on non-human detection, primarily AI agents. As the number of AI agents increases, companies will have to deploy cybersecurity software that monitors the behavior of these agents and allows them to access other software.
Founded in 2022, Oasis has raised approximately $195 million from Accel, Craft Ventures, CyberStarts and other investors.
The deal highlights the growing market for cybersecurity providers protecting enterprises against AI-weaponized threats.
Cyra, which shares investors Accel and cyberstarts Oasis, has been on an acquisition spree, recently buying Index Ventures-backed Ryft and less-than-year-old Genie Security.
Following the acquisition, Saira plans to integrate Oasis’ technology into a unified identity and data security platform.
Although Saira has recently left it behind $150 million TechCrunch reported last month that the company was far from profitable in annual recurring revenue (ARR). The five-year-old company has raised about $2.3 billion in total funding.
