Oasis Secures $35M Series A Extension To Automate Non-Human Identity Security

Oasis Security, a pioneer in Non-human Identity Management (NHIM) solutions, has recently announced a significant financial milestone, securing a Series A Extension funding of $35 million. This achievement comes merely three months after the company made its initial debut from stealth mode. The funding round saw participation from existing investors, including Accel, Cyberstarts, and Sequoia Capital, effectively doubling the company's valuation since its Series A funding round. To date, Oasis has amassed a total of $75 million in funding.

The surge in Non-Human Identities (NHIs), such as system accounts, secrets, keys, and tokens, has introduced a new vulnerability in cybersecurity. These NHIs are increasingly being exploited by malicious attackers, leading to significant security breaches. This trend is highlighted by recent incidents involving well-known organizations, emphasizing the critical need for effective governance and management of NHIs. The Cyber Safety Review Board's report on the Microsoft Online Exchange Incident from Summer 2023, released by the U.S. Department of Homeland Security, further confirms the urgency of addressing this issue.

Danny Brickman, Co-Founder and CEO of Oasis Security, expressed concern over the current identity security crisis centered around NHIs. He pointed out the lack of adequate tools for providing comprehensive visibility and governance of NHIs across hybrid cloud environments. Brickman emphasized the market's recognition of the need for a novel approach to address this critical issue, which has propelled Oasis's business momentum.

Oasis Security offers an enterprise platform designed to efficiently manage and secure NHIs at scale. The platform enables customers to gain holistic visibility into their environment without the need for agents. It features built-in analytics that monitor NHI usage, providing essential insights into ownership, access patterns, privileges, and risk posture. Oasis also facilitates quicker resolution of identified issues by generating severity scores for prioritization and offering tailored remediation paths.

With the new influx of funds, Oasis plans to significantly invest in its Research & Development (R&D) and Go-To-Market strategies. This investment aims to accelerate the development of its product roadmap and expand its innovative platform to a broader audience.

Bogomil Balkansky, a partner at Sequoia Capital, highlighted the increasing challenge posed by NHIs as they begin to outnumber human identities within enterprises. He commended the Oasis team for developing a leading platform for NHI management that has received an impressive response from customers.

Andrei Brasoveanu from Accel praised co-founders Danny and Amit for their foresight in identifying the emerging security challenges posed by AI and automation. He noted the enterprise-grade platform's success in automating the lifecycle of non-human identities and its rapid traction within a short timeframe.

Lior Simon, General Partner at Cyberstarts, reflected on the vision behind Oasis's journey towards redefining identity governance. He acknowledged the significant shift towards cloud computing and AI adoption that has positioned NHIs as a major attack surface for organizations. Simon expressed excitement about Cyberstarts' close collaboration with Oasis as they continue on their path of growth.

Oasis Security stands at the forefront of addressing the complex challenges associated with non-human identity management. As organizations continue to navigate the shift towards cloud computing, DevOps, and AI technologies, Oasis's innovative solutions offer a promising avenue for enhancing security posture, implementing robust governance measures, and simplifying compliance processes.