May 1, 2024 at 02:58PM
Identity management startup Oasis Security secured $35 million in a Series A extension round, totaling $75 million raised. The round, led by Accel, Cyberstarts, and Sequoia Capital, aims to help organizations manage Non-Human Identities (NHI) securely. Their software offers agentless connection, built-in analytics, severity scoring, and tailored remediation. The funding will drive R&D and go-to-market operations.
Key takeaways from the meeting notes:
1. Oasis Security raised $35 million in a Series A extension round, bringing the total raised by the company to $75 million. The funding round was led by Accel, Cyberstarts, and Sequoia Capital.
2. The New York-based startup is focusing on technology to manage Non-Human Identities (NHI) used for workload-to-workload access, including system accounts, secrets, and keys. Their software connects to customers’ environments without the need for agents and uses built-in analytics to observe non-human identities’ use.
3. The product also provides enterprise network administrators with information on accessed resources, privileges, owners, consumers, and risk posture. It generates a severity score and offers tailored remediation recommendations to automate tasks and improve response time.
4. The company plans to invest the new funding in research and development (R&D) and go-to-market operations.
5. According to Oasis Security CEO and co-founder Danny Brickman, there is an identity security crisis where non-human identities are at the epicenter, validating the need for a new approach, resulting in robust business momentum for Oasis.