Our Partnership with Oasis Security: Securing Access for the Agentic Era

We are excited to share that Craft Ventures is leading the $120 million Series B in Oasis Security. Oasis is building identity solutions for the agent era, reshaping one of the most important categories in enterprise security. We are joined by existing investors Cyberstarts, Sequoia, and Accel, as well as new investor Leaders Fund.

We first met the founders of Oasis, Danny Brickman and Amit Zimerman, back in 2024. The company was still early, but the founders were already operating like category leaders. They were moving with speed, recruiting with purpose, and building with the conviction that identity security needed to be rethought from the ground up.

At the time, they were pioneering the non-human identity (NHI) market. Service accounts, API keys, tokens, and machine credentials outnumber human identities by as much as 80-to-1 and organizations needed a systematic way to discover, govern, and secure them. Oasis established itself as the market leader and earned the trust of some of the largest organizations in the Global 2000.

Fast forward to today, organizations are now undergoing a seismic shift that is making the NHI market more important than ever. The catalyst is the emergence of the first truly capable AI agents, which has thrust NHI solutions from nice-to-have to must-have, critical infrastructure. In conversations with dozens of CISOs and security leaders across industries, we heard the same message repeatedly: “NHI management is now a top tier architectural priority.”

The rationale behind this shift is that NHIs ultimately control what agents can and cannot do within an organization. The problem only grows with agent adoption, as each new agent spawns additional NHIs to manage. But these agents also represent a new form of NHI that has data access, credentials, and ability to take action using corporate assets.

As companies consider their AI rollout, securing agent access is a massive concern. Legacy PAM and IGA vendors were built for a human-centric world where limiting access to permitted boundaries was sufficient. In this new world, agents are non-deterministic. Even within permitted boundaries, they need to be observed to interpret their intent behind actions and ensure they aren’t doing harm or taking actions that are misaligned with their original intent. In short, agents cannot be governed like human workers with static roles and permissions.

Oasis spent the last year building out their agent access solutions, purpose-built to solve this problem for enterprises so they can accelerate their AI adoption. Oasis can interpret an agent’s intent in real time and grant scoped, short-lived, least privileges to corporate assets as needed. The ability to map what an agent needs to do, determine the access required, and provision session-level access is a major step forward in securing this rapidly developing technology.

Identity teams can now lean on Oasis to solve two of the most acute challenges they are faced with today: managing non-human identities and controlling agent access. We believe this is just the beginning of what will become the most complete privileged access and governance platform built for the agentic era. The market opportunity represents more than $55Bn of addressable market and it is growing more than 20% a year.

Earlier this year, we were eager to reconnect with Danny and Amit to talk about the future of identity in an era of agents. What started as a quick lunch near Newark turned into time with the broader Oasis team at their Sales Kick Off in the Dominican Republic. One thing was unmistakable: Oasis is building with real force. The team they have assembled from across the identity industry is exceptionally deep, experienced, and aligned around the mission. Their energy is palpable and ambition is obvious. We spoke with several of Oasis’s Fortune 500 customers, and the feedback was about as strong as it gets. Customers consistently pointed to the team’s speed of execution, pace of product iteration, and relentless focus on customer needs.

Oasis has a very bright future ahead. We couldn’t be more excited to lead this round and deepen our partnership with the Oasis team as they define the next generation of identity security.