Oasis Security’s $120 million Series B, led by Craft Ventures with backing from Cyberstarts, Sequoia Capital and Accel, brings the startup’s total capital to $195 million and underscores the continued appetite of institutional venture investors for identity‑centric security solutions. The round was structured to support rapid product engineering, go‑to‑market expansion in North America and EMEA, and the scaling of a sales organization capable of penetrating large‑scale enterprise contracts. Such a capital infusion signals confidence that the company’s “agentic access management” approach can capture a sizable share of the evolving IAM market, which is projected to exceed $20 billion by 2028.
The core innovation—granting permissions dynamically based on real‑time intent rather than static roles—addresses a structural shift highlighted by Palo Alto Networks’ finding that machine identities now outnumber human users by a ratio of 82 : 1. As enterprises accelerate deployment of AI agents, microservices and autonomous workloads, traditional access‑control models become untenable, creating blind spots that adversaries can exploit. Oasis’s just‑in‑time, intent‑based framework directly mitigates this risk by enforcing least‑privilege access at the moment of operation, thereby reducing the attack surface without impeding agility.
Adoption metrics reinforce the commercial viability of the model: Oasis reports a fivefold increase in annual recurring revenue over the past year, driven largely by multi‑year agreements with Fortune 500 corporations. The concentration of customers among large enterprises indicates that the platform is being embedded into core identity and access infrastructure rather than used as a peripheral tool, which translates into higher switching costs and predictable, recurring cash flows—attributes that appeal to both strategic acquirers and long‑term investors.
For the MENA region, the funding round highlights two converging trends. First, sovereign wealth funds and state‑backed investment vehicles across the Gulf are earmarking growing slices of their portfolios for cybersecurity and AI‑enabling technologies, viewing them as critical to national digital transformation agendas. Second, the proliferation of hyperscale data centers and AI‑first initiatives in Saudi Arabia, the UAE and Qatar intensifies demand for robust, scalable access‑control solutions that can secure machine‑to‑machine interactions at scale. Oasis’s technology, already gaining traction among global multinationals, is well positioned to become a preferred partner for regional infrastructure projects seeking to comply with stringent data‑localization and risk‑management requirements while enabling rapid AI deployment. The startup’s continued expansion into MENA could therefore serve as a catalyst for deeper sovereign‑capital allocation into the cyber‑tech venture ecosystem.
