SaaS platforms were Reco’s original territory. The security startup has now raised $55M for a newer problem: enterprises that have lost count of the AI agents running inside their walls.
Forestay and Quadrille Capital were joined in the extension by AT&T’s venture arm. Total funding for Reco now stands at $140M, on top of a $30M Series B that closed in February.
Customer discoveries, according to chief executive Ofer Klein, forced the repositioning. A single Fortune 100 account held 21,000 agents the company had never inventoried. At another customer, this one in financial services, an agent left behind by a departed employee could reach Salesforce and ship data to a domain that no one was watching.
A context graph is how Reco now ties agents to the apps, people, accounts and permissions surrounding them, and unused access gets cut. Inspecting prompts and tool calls is part of the job, and the platform’s connections run past 280 applications.
Crowding is the difficulty. Some two dozen vendors pitch agent security in one flavor or another, whether vetting the tools agents reach for or guarding the data they touch, and the messaging converges. Reco’s answer is that its existing enterprise-application coverage hands it a head start.
Valuation, in Klein’s telling, has better than doubled since February and lands in the high hundreds of millions. Recurring revenue sits in the double-digit millions, a figure headed for a threefold jump this year. Customer count runs past 100, with financial services accounting for roughly 40%.
More headcount, a wider sales effort, new partnerships and stronger customer support are what the $55M pays for.
