Backed by Sequoia, Accel, and Cyberstarts, Oasis launches the first enterprise platform that automates the lifecycle of non-human identities
TEL AVIV, ISRAEL / ACCESSWIRE / January 23, 2024 / Oasis Security, the leading provider of Non-human Identity Management (NIM) solutions, announced today that it raised a total of $40 million funding led by Sequoia Capital, alongside Accel, Cyberstarts and Maple Capital. Guy Podjarny, founder of Snyk, and Michael Fey, Co-Founder and CEO of Island, also participated in the financing.
The rapidly growing number of non-human identities - such as service accounts, secrets, API keys, tokens and certificates - deployed in organizations' hybrid and multi-cloud environments poses a dual security and operational challenge. Non-human identities now outnumber human identities by a factor of 50 to 1, creating a massive attack surface that has become a primary target of malicious actors. The security risks are further compounded as, on average, there are 10 times more non-human identities with broader access privileges to sensitive data than there are humans. With more business processes being automated via AI workflows and accessed by machines, it is critical that organizations deploy an enterprise-wide non-human identity strategy.
"Shifts in infrastructure and workloads have completely changed the identity stack. Non-human identities have grown exponentially and become the weak link in enterprise cybersecurity," said Danny Brickman, Co-founder and CEO of Oasis Security. "The compromise of a single service account or token could allow a malicious actor to delete an entire cloud environment. Traditional human identity and secrets management tools can't handle the scale and complexity of non-human identities, leaving most organizations flying blind and severely exposed. Oasis delivers a comprehensive yet easy-to-use solution that allows growth and security to go hand-in-hand."
Oasis is the first enterprise platform purpose-built to automate the lifecycle of non-human identities. Oasis is extremely easy to use and to integrate with all the major cloud and on-premise identity sources. Oasis instantly provides holistic visibility with deep contextual insights on every non-human identity - who owns it, consumes it, what resources it grants access to and how privileged. The built-in Oasis Posture & Remediation Intelligence (PRI) module automatically identifies vulnerabilities, prioritizes the most severe issues, and generates remediation plans, drastically shortening the time to detection and incident resolution.
"Oasis has revolutionized our approach to non-human identity management, effectively addressing security challenges that remained unsolved by conventional methods. Their solution has significantly enhanced our security and governance framework, providing us with holistic visibility and lifecycle automation. This represents a new paradigm in non-human identity management, far surpassing the capabilities of traditional legacy systems." - Chris Mosteller, Head of Identity Security, JLL
"Identity is the new perimeter, and non-human identity is the gaping hole in that perimeter," said Bogomil Balkansky, partner at Sequoia Capital. "We are excited to work with the Oasis team to solve one of the biggest challenges in cybersecurity today. The company has come out of the gate very strong and fast, signing up blue chip customers less than a year after it was founded, which is a testament to the latent demand for such a solution and to this team's capabilities and commitment."
"Driven by increasingly fragmented and complex cloud environments, non-human identities have grown exponentially over the past few years," said Andrei Brasoveanu, partner at Accel. "Early on, Danny and Amit spotted this security challenge for CISOs and, since founding Oasis, have seen impressive adoption from large enterprise customers. We feel the team has what it takes to build a large category-defining company and we look forward to the journey ahead."
"Danny and Amit's journey has been a Cyberstarts textbook process - incredibly talented duo who ventured into entrepreneurship with a resolute mission to address a crucial cybersecurity pain point. Through dozens of dialogues with CISOs and industry leaders, they chose a differentiated approach in the emerging non-human identity security space," said Lior Simon, General Partner at Cyberstarts. "It has been a privilege to partner with the Oasis team since their inception, and I look forward to the next chapters of Oasis, building together a lasting cybersecurity business."
About Oasis Security
Oasis is the market-leading platform for non-human identity management. With modern systems and development teams now increasingly distributed, non-human identities, such as secrets, API keys, and RPA accounts, have surged creating a massive attack surface that legacy tools can't manage. Oasis solves this critical security challenge by automatically discovering all non-human identities across all environments, providing holistic visibility, risk assessment with vulnerability auto-remediation and simplifying secret management compliance.
SOURCE: Oasis Security
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