Identity management startup Oasis Security has deposited $35 million in a Series A extension round that brings the total raised by the company to $75 million.
The funding round, announced just three months after the company emerged from stealth mode, was led by Accel, Cyberstarts and Sequoia Capital.
The New York-based startup is working on technology to help organizations manage Non-Human Identities (NHI) used for workload-to-workload access, including system accounts, secrets, keys, and tokens, which are increasingly exploited by threat actors to breach organizations.
Oasis Security’s software connects to customers’ environments without the need for agents, and uses built-in analytics to continuously observe the use of non-human identities.
Enterprise network administrators can use the product to collect information on accessed resources, privileges, owners, consumers, and risk posture.
The Oasis Security product also generates a severity score and provides tailored remediation recommendations to automate tasks and improve response time.
The company plans to invest the new money in its research and development (R&D) and go-to-market operations.
“We are witnessing an unprecedented identity security crisis where non-human identities are at the epicenter, with severe business repercussions for many organizations. In recent months, the market validated the need for a new approach that solves this critical issue, resulting in robust business momentum for us at Oasis,” Oasis Security CEO and co-founder Danny Brickman said.
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