Cyber unicorn Cyera, which recently raised $600 million at a $12 billion valuation, is in advanced talks to acquire Israeli cybersecurity company Oasis Security. Negotiations between the companies are at an advanced stage, with the emerging acquisition value expected to exceed $1 billion. Since its founding, Cyera has raised $2.3 billion to date.
Cyera was founded in 2021 by Yotam Segev, its CEO, and Tamar Bar-Ilan, its chief technology officer. Both are graduates of the Talpiot program and Unit 8200.
Cyera founders Tamar Bar-Ilan, Yotam Segev and Yonatan Itai
(Photo: Orel Cohen)
Oasis Security has raised about $195 million to date. The company was founded in 2022 by CEO Danny Brickman and Chief Product Officer Amit Zimmerman.
Cyera’s latest funding round will also be used, among other things, for the current acquisition. The fundraising is part of the company’s effort to advance the development of its AI-based products. Although Cyera is privately held and does not report its revenue, estimates put its annual recurring revenue at more than $200 million.
Growing demand for solutions in the field is also reflected in the company’s pace of growth. Cyera’s annual recurring revenue has tripled for three consecutive years. Over the past 18 months, the company has grown to more than 1,500 employees operating in 18 countries and has completed five acquisitions, most recently Ryft and Genie. Those acquisitions expanded Cyera’s platform capabilities, helping organizations manage and control AI systems at scale.
The company’s customers include Paramount, Chipotle, Valvoline, Hollister, Docusign and others.