Security startup Reco has raised $55 million in a new funding round, bringing its total capital raised to $140 million. The company previously secured a $30 million Series B in February. Investors in the latest round include AT&T, Forestay, and Quadrille Capital.
CEO Ofer Klein stated that the company's valuation has more than doubled since the February Series B, reaching the high hundreds of millions. Reco currently reports annual recurring revenue in the double-digit millions of dollars, with expectations for this figure to triple within the year.
The platform serves over 100 customers, with financial services firms representing 40% of its business. Reco integrates with more than 280 applications and uses a context graph to monitor AI agents, mapping their access to apps, users, and permissions.
The company plans to allocate the new capital toward expanding its sales and partnership efforts, as well as increasing headcount and enhancing customer support. Reco aims to differentiate itself by securing the entire ecosystem surrounding AI agents.
