Oasis Security raises $120M Series B to govern AI agent access in the enterprise
What's the deal? Oasis Security, a New York-based identity security startup, has raised $120 million in a Series B round led by Craft Ventures, with participation from existing investors. The raise brings total funding to $195 million. The company previously closed a Series A in 2024, followed by an extension four months later — making this Series B a significant step up in both scale and investor confidence.
Oasis focuses on what it calls non-human identity management: securing the access of AI agents, service accounts, and automated systems, which now outnumber human users 82 to one in enterprise environments, according to Palo Alto Networks.
Why now? AI agents are being embedded across enterprise infrastructure at pace, creating a new and largely unmanaged attack surface. Traditional identity and access management tools were designed for people — not for autonomous systems making thousands of access decisions per minute. Oasis says its new annual recurring revenue grew fivefold year on year, with the majority of new contracts coming from Fortune 500 companies on multi-year agreements.
The company's platform grants just-in-time, intent-based access — meaning an agent only receives the permissions it needs for a specific task, not standing access that could be exploited.
What could go wrong? Oasis is operating in a category it helped define, but that definition is attracting competition. Large incumbents in identity and access management, including CyberArkand Microsoft, have the distribution and enterprise relationships to move into agentic access quickly. The company's 5x ARR growth is strong, but the base from which it grew is not disclosed — making the absolute scale harder to assess.
The broader agentic AI market is also still maturing. If enterprise AI agent adoption slows or consolidates around a smaller number of platforms, the addressable market for specialised access governance could narrow.
The signal: Oasis's raise reflects a growing consensus that identity is the new perimeter in enterprise security — and that AI agents have made the problem dramatically harder. When machines outnumber humans by 82 to one and each can request, hold, and act on access permissions autonomously, the legacy model of managing identities one by one breaks down entirely.
The companies building governance infrastructure for this shift are attracting serious capital, and Oasis's trajectory — from Series A to a $120 million Series B within roughly a year — suggests investors see it as a category leader in a market that is only just beginning to form.
Source:
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