Startup Reco raises $55 million for AI agent security — TechCrunch
Startup Reco, which develops solutions to protect SaaS platforms and artificial intelligence platforms, has raised $55 million in new funding. The round was an extension of the $30 million Series B that the company announced in February, bringing Reco’s total funding raised to $140 million, TechCrunch reports.
The extension round included AT&T’s venture arm — AT&T is a Reco customer — as well as Forestay and Quadrille Capital. According to Reco co-founder and CEO Ofer Klein, the startup’s valuation has more than doubled since the Series B announcement in February. He estimated it at the upper end of the hundreds of millions of dollars but did not name a specific amount.
Controlling AI agent access
Until last year, Reco primarily offered software for discovering and protecting SaaS and AI platforms. The company now positions its product as a broader solution for controlling AI agents. The platform uses a context graph that connects agents with applications, people, accounts, and permissions. This is intended to help security teams determine what an agent has access to and revoke unnecessary permissions.
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Klein said that companies are deploying AI agents faster than they can keep track of them. According to him, at one Fortune 100 client, Reco’s platform identified 21,000 agents that the company did not know about. At a major financial-sector client, the startup claims, the system also identified an agent created by a former employee: it had access to Salesforce and could transmit data to a domain the company had not seen.
Betting on integrations
Reco currently integrates with more than 280 applications, and new integrations can be added within several days, according to Klein. To find agents outside applications to which the platform is directly connected, it uses browser and network signals. The solution also includes tools for checking prompts and tool calls.
The company said it has more than 100 customers, with financial companies accounting for about 40% of its business. Reco’s current annual recurring revenue is estimated by Klein at tens of millions of dollars, and the startup expects to triple that figure this year. Reco plans to use the new funds for hiring, sales, partnerships, and customer support.
