Reco, an AI security startup, has successfully raised $55 million, building on a previous $30 million Series B funding round from February. This latest investment, which brings the total funding to $140 million, includes contributions from AT&T’s venture arm, Forestay, and Quadrille Capital. Co-founder and CEO Ofer Klein noted that the company's valuation has more than doubled since February, with annual recurring revenue expected to triple this year.
The significance of this funding lies in Reco's innovative approach to managing the proliferation of AI agents within enterprises. With over 100 customers, particularly in the financial services sector, Reco has shifted its focus to a context graph that connects agents with applications, users, and permissions. This enables security teams to monitor agent access effectively, addressing the challenge of enterprises deploying agents faster than they can manage.
Looking ahead, Reco plans to utilize the new capital for hiring, expanding sales, forming partnerships, and enhancing customer support. The company operates in a competitive landscape with at least two dozen other agent security vendors, indicating a growing demand for comprehensive solutions that cover the entire agent ecosystem rather than individual agents. No further timeline was disclosed at the time of publication.
Editor's Note
The rapid growth of AI technologies has led to an increase in the deployment of AI agents across various sectors, particularly in financial services. As organizations struggle to manage these agents effectively, solutions like Reco's context graph are becoming essential for maintaining security and compliance. The competitive landscape is intensifying, with numerous vendors vying for market share in agent security.
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