Priya Patel
TLDR:
- Israeli startup Oasis Security has raised $40 million in funding for its cybersecurity platform.
- The platform is designed to manage and secure non-human identities in organizations.
- The funding will be used to expand the company’s workforce and further develop its product capabilities.
Israeli startup Oasis Security has revealed its cybersecurity platform for mapping, managing, and securing non-human identities in organizations after raising $40 million in funding. The funding round, led by Sequoia Capital, Cyberstarts, Accel Partners, and Maple Capital, saw the company raise approximately $35 million. The funds will be used to hire more employees and continue developing the platform’s capabilities. Oasis was founded in 2022 by CEO Danny Brickman and VP of Product Ami Timarman, both of whom have backgrounds in Israeli intelligence. The company currently employs about 45 people in Israel and has multiple offices in the US. The platform addresses the challenge of managing and securing non-human identities, such as tokens and service accounts, which can pose vulnerabilities for organizations. Oasis’s solution maps these identities, classifies their access, identifies weaknesses, and provides recommendations for resolution.
The transition to cloud computing, automation, and artificial intelligence has made systems in organizations more complex, leading to an increased number of non-human identities with access to sensitive information. In 2023, there was a record number of cyber attacks targeting these non-human identities. The market for identity management is valued in the billions of dollars each year. Oasis’s platform aims to fill this gap by managing and securing non-human identities, providing organizations with a comprehensive and user-friendly solution. The company’s technology shortens the time between vulnerability detection and resolution and can be easily implemented on any infrastructure.
Danny Brickman, CEO of Oasis Security, emphasized the growing need for security in the field of identities and the limitations of existing tools in handling non-human identities. The company’s platform allows organizations to continue growing rapidly without compromising security. Sequoia Capital partner Bogomil Balkansky highlighted the significant security gap that non-human identities represent and the demand for Oasis’s solution. Lior Simon, a partner at Cyberstarts Foundation, praised Oasis’s founders for choosing to tackle the security challenge in the non-human identities field.
