Israeli co Oasis Security raises $40m

Israeli cybersecurity company Oasis Security has announced that it has raised $40 million including the completion of a $35 million Series A financing round. The company has developed an enterprise cybersecurity protection platform that maps, manages and secures against non-human identities. These non-human identities include service accounts, tokens, API developers, and RPA accounts.

The funding was led by Sequoia Capital, together with Accel, Cyberstarts and Maple Capital. Guy Podjarny, founder of Snyk, and Michael Fey, cofounder and CEO of Island, also participated in the financing.

Oasis was founded in 2022 by CEO Danny Brickman and CPO Amit Zimerman, who met during their military service in the 81 intelligence unit. Before founding the company, the two men collaborated on several projects, some of which won the Israel Defense Prize. Zimerman is a former employee of Microsoft Israel's cybersecurity division. Oasis has 45 employees in Israel and several centers in the US, which provide services for international corporations.

Brickman said, "Shifts in infrastructure and workloads have completely changed the identity stack. Non-human identities have grown exponentially and become the weak link in enterprise cybersecurity. The compromise of a single service account or token could allow a malicious actor to delete an entire cloud environment. Traditional human identity and secrets management tools can’t handle the scale and complexity of non-human identities, leaving most organizations flying blind and severely exposed. Oasis delivers a comprehensive yet easy-to-use solution that allows growth and security to go hand-in-hand."

Cyberstarts general partner Lior Simon said, "Danny and Amit's journey has been a Cyberstarts textbook process - incredibly talented duo who ventured into entrepreneurship with a resolute mission to address a crucial cybersecurity pain point. Through dozens of dialogues with CISOs and industry leaders, they chose a differentiated approach in the emerging non-human identity security space. It has been a privilege to partner with the Oasis team since their inception, and I look forward to the next chapters of Oasis, building together a lasting cybersecurity business."

Published by Globes, Israel business news - en.globes.co.il - on January 31, 2024.