Oasis Security, a cybersecurity firm specialising in non-human identity and agentic access governance, has raised $120m in a Series B funding round, bringing its total funding to $195m.
The round was led by Craft Ventures, with participation from existing investors Cyberstarts, Sequoia Capital, and Accel. The investment reflects growing recognition across the enterprise sector that managing access in an increasingly AI-driven infrastructure demands a fundamentally different approach to security.
The company has built a platform designed to govern how AI agents and machine identities interact with critical enterprise systems. With machine identities now outnumbering human ones by a ratio of 82 to 1, according to figures from Palo Alto Networks, the traditional tools built to manage user access are increasingly ill-suited to the demands of modern infrastructure.
Oasis positions itself as the first platform to address this gap at scale, offering what it describes as Agentic Access Management (AAM) — a system that evaluates what each machine or agent is attempting to do and grants only the permissions necessary to complete that task. The platform covers everything from vaulted credentials and federated access to ephemeral permissions, with a single policy layer applied across all machine identities regardless of infrastructure.
The Series B proceeds will be directed towards expanding research and development of the AAM platform, broadening compatibility across AI agent frameworks and enterprise systems, and scaling the company’s global sales and go-to-market operations.
Oasis has reported strong commercial momentum ahead of the raise, with new annual recurring revenue growing fivefold year on year. The majority of its client base is drawn from the Fortune 500, and most new revenue is generated through multi-year enterprise agreements — a sign, the company says, that its platform is becoming embedded directly into customers’ identity architecture rather than deployed as a peripheral tool.
Oasis Security CEO Danny Brickman said, “Cybersecurity is defined by how we protect against abnormal and risky events. In the era of AI, that definition is being reshaped by access. Agent value is defined by access, and so is modern risk. Every organization deploying AI agents is taking on access risks they can’t yet see. Oasis was built to change that. We’re seeing this play out across our customer base: the organizations scaling AI fastest are the ones who treated access as a foundational requirement, not an afterthought. That’s the problem Oasis was built to solve.”
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