Israeli startup Oasis Security, developer of a platform for securing non-human identities (NHIs) in an organization, has announced the completion of a Series A extension in which it raised $35 million, at double the valuation in its previous round held just months ago. The round was led by was led by Accel, Cyberstarts and Sequoia Capital. Including the current round, Osasis Security has raised $75 million to date. The company intends to hire dozens more workers in Israel and the US.
Oasis Security was founded in 2022 by its CEO Danny Brickman and CPO Amit Zimerman. The pair decided to deal with the problem of non-human identities, such as service accounts and API keys, in enterprises. Attackers can take advantage of the growth in such identities to carry out highly destructive attacks.
Oasis Security’s platform assists in managing NHIs, It maps them, identifies potential weaknesses, prioritizes treatment using a risk assessment model, and offers remediation measures.
"We are witnessing an unprecedented identity security crisis where non-human identities are at the epicenter, with severe business repercussions for many organizations," Brickman said in the announcement of the round. "Security and identity teams are left alone in uncharted territory, as other tools lack the ability to provide holistic visibility, posture, and governance of NHIs across the hybrid cloud."
The company cites findings from a new report by the US Department of Homeland Security that failures in NHI management led to the hacking of accounts of senior US government officials.
Oasis Security employs 60 people in Israel and the US, and provides services to several global enterprises.
Published by Globes, Israel business news - en.globes.co.il - on May 2, 2024.
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