Identity security market sees startup funding, M&A and channel expansion

Oak launches with a $60 million seed round and an AI‑driven identity control plane. Barracuda expands its MSP‑focused identity stack by acquiring Evo Security, and Delinea revamps its partner program as it targets $1 billion in ARR.

Oak exits stealth with $60M and an AI‑driven identity control plane

Start-up Oak has come out of stealth with a product to give enterprises a single control plane to manage identity and access across their systems.

The identity security startup, founded by serial entrepreneur Shai Morag and Tal Marom, is founded on the belief that outdated credentials and fragmented identity‑access management (IAM) processes have become a growing security risk.

Oak has raised a $60 million seed round, completed late last year, co‑led by Accel, CRV and Greylock Partners. The company says its platform is already in use at unnamed enterprise customers.

The startup’s system uses an AI‑driven connector framework that maps user access to application behaviour and automatically removes permissions that are no longer needed. Oak aims to make IAM continuous and risk‑based, flagging anomalies such as unusual login locations.

Morag, a former army officer with multiple cybersecurity exits, previously sold Secdo to Palo Alto Networks and later co-founded Ermetic, which was acquired by Tenable in 2023. After leaving Tenable, he teamed up with Marom — formerly of Salesforce and the Israeli military — to build Oak. The company has grown to around 50 employees and is expanding hiring in the U.S.

Investors say the complexity of identity management makes experience critical. Accel partner Andrei Brasoveanu noted that the firm had backed Morag before and expected strong competition in the IAM market as vendors adopt AI. Oak’s challenge, he said, will be scaling quickly in a sector with deep incumbent lock‑in.

Morag claims this will be his final company and intends to push for rapid growth: “I will go big or go home,” he told TechCrunch.

Barracuda buys Evo Security to expand MSP‑focused identity stack

Barracuda has acquired Evo Security, a U.S.‑based identity and access management (IAM) provider built specifically for managed service providers (MSPs). The acquisition expands Barracuda’s identity security capabilities and folds Evo’s technology into the BarracudaONE platform.

The deal gives BarracudaONE a broader identity stack that brings together privileged‑access management, access control, identity protection and identity threat detection under one system. Barracuda says MSPs will be able to manage identity resilience from a single multi‑tenant platform while customers gain a more streamlined identity security option.

Evo Security allows granular access controls, removes standing privileges and authenticates users across devices and endpoints, which are areas where MSPs often struggle to manage scale, the companies say.

Barracuda will integrate the controls with its existing SecureEdge zero‑trust network access, Entra ID backup, managed detection and response services. It creates a four‑layer identity architecture that looks to reduce common attack paths, protect identity systems from disruption and detect credential‑based attacks.

Identity security has become a priority for MSPs as attackers increasingly target user accounts and bypass MFA. Identity‑based attacks jumped 32 percent in the first half of 2025, according to a Microsoft report. Many still rely on passwords making MFA alone inadequate, especially as adversaries use AI to exploit enrollment flows, help desks, session tokens and legacy systems.

Evo Security’s team will join Barracuda, and the company will continue supporting Evo’s existing MSP customers as the technology is absorbed into BarracudaONE.

Terms of the deal were not disclosed.

Delinea launches new Partner Advantage Program as it targets $1B ARR

Delinea has overhauled its channel program as it seeks to expand its partner ecosystem and support its push toward $1 billion in annual recurring revenue.

The new Partner Advantage Program includes clearer rules of engagement, stronger discount protections and new AI‑driven enablement tools. Delinea says the framework will give partners more predictable margins and a simpler operating model.

The program includes three tiers and separate tracks for sales‑focused partners, such as resellers and integrators, and for MSPs delivering managed services. Additional tracks for global system integrators are planned. The company has also shifted all new business in the Americas to a channel‑only model.

The revamp follows recent leadership hires, including Channel Chief Scott Goree, who joined in April, and Chari Rhoades‑Schambari, formerly of Proofpoint, who now leads Americas channel and alliances. Delinea has doubled the size of its channel coverage team and its market development funds since Goree’s arrival, with growth‑based backend rebates set to roll out later this year.

Partners say the changes provide clearer guidance and more predictable engagement. GuidePoint Security, one of Delinea’s largest partners, said the simplified structure and earned‑incumbency model should strengthen collaboration and expand growth opportunities.

Delinea, formed through the 2021 merger of Centrify and Thycotic, reached US$500 million in ARR earlier this year. Delinea completed its acquisition of StrongDM in March. The company says deeper partner alignment will be essential to sustaining its next phase of expansion.