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Acquired · Cyera

Oasis Security exit brief

Exit date
2026-09-03
Exit valuation
$1.0B

Oasis Security, a non-human identity startup, records an acquisition by Cyera on September 3, 2026, at a $1 billion exit valuation. This follows its $120 million Series B on March 19, 2026, a 168-day round-to-exit interval. Exit valuation was approximately 8.33 times the round amount, suggesting potential liquidity but not an 8.33x investor return: ownership and distribution terms are missing.

Investor impact

  • Review allocations for lead investor Craft Ventures and participating investors Cyberstarts, Sequoia Capital, Accel, and Leaders Fund; individual investments are undisclosed.
  • Obtain ownership, dilution, and preference terms before translating the 8.33x valuation-to-round ratio into investor proceeds.
  • Confirm acquisition consideration and payment timing; acquisitions can provide liquidity, but cash, buyer shares, and contingent payments have different implications.
  • Verify actual closing and payout dates before treating the 168-day recorded interval as investors’ realized holding period; returns are undisclosed.

Risks

  • Dilution and preference rights could leave Series B investors with materially less upside than the headline valuation comparison suggests.
  • If consideration includes buyer shares, escrow, or earnouts, liquidity could be delayed and eventual proceeds could decline.
  • Team retention is undisclosed; departures could disrupt integration and jeopardize contingent consideration, if any.

Reviewer questions

  • What amount did each tracked investor contribute, and what ownership did each retain at exit?
  • Does the $1 billion valuation represent equity value or enterprise value, and what was the actual purchase consideration?
  • What liquidation preferences or other distribution rights governed Series B proceeds?
  • What proceeds and realized returns did each tracked investor receive?
  • When did the acquisition close, and when were investors paid?
  • Which Oasis Security team members were retained, and was any consideration conditional on retention?

AI-assisted analysis reviewed by a Breach Tank administrator. Valuation-to-funding comparisons are not investor returns.

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