Reco Raises $30 Million to Enable Organizations To Collaborate Securely Using Its Context-Based AI Relationship Map
NEW YORK — June 3rd, 2022 — Reco emerged from stealth today with the introduction of its Context-Based AI Platform that enables modern organizations to collaborate securely with their customers, vendors, and employees across major Collaboration Tools. The company also announced that it has raised $30 million to date. The A round was led by Zeev Ventures and Insight Partners, with participation from BoldStart, Angular Ventures, Jibe Ventures, CrewCapital, Cyber Club London and leading private investors.
Founded in 2020, Reco builds tools to secure sensitive assets for organizations by mapping and monitoring contextual metadata. Using applied machine learning, Reco creates a model of the relationships among an organization’s employees, teams, and third parties as they interact and collaborate, helping security teams understand and visualize threats from collaboration and sharing. In addition, Reco quickly plugs into tools like Slack, Google Drive, Microsoft OneDrive, Jira and more to create a contextualized knowledge graph through which security teams can detect and respond to unauthorized or anomalous activity instantly.
“While collaboration tools speed up the flow of work in the modern enterprise, they also expose companies to a new set of vulnerabilities and an increased area of risk,” said Ofer Klein, Co-Founder and CEO of Reco. “Securing critical assets is a top priority for any organization, and the only way to spot real collaboration security incidents is by understanding the business context of every single interaction. That’s where Reco comes in.”
Reco has received high marks from its customers, including early customers SolarEdge and Tipalti. “Reco allowed us to easily find and act upon potential data leak risks, with no false positives and a very simple setup” said Igor Vainberg, CTO of Tipalti. Dror Hevlin, CISO of SolarEdge, said “40% of my team’s time is now free to do other things. They used to have to handle static policies and deal with thousands of false positives.”
By using Reco’s solution, organizations are able to intelligently detect and remediate common problems like erroneous outside vendor access and files being sent to or shared with the wrong individual.
It does so by leveraging the Reco Ontology, an overarching metadata view underpinned by two main components: Collaboration Mapping and Business Content Justification. Collaboration Mapping identifies interactions, classifies entities and categorizes them via their actual business process. Business Content Justification predictively calculates the reasoning behind the transfer of assets or sharing in collaboration tools, helping security teams to intelligently identify sensitive assets without ever viewing the content.
Taken together, Reco is securing the new frontier of enterprise collaboration.
The company is actively recruiting.
Founded in 2020, Reco’s mission is to enable secure collaboration at the speed of business. The company recognizes that cloud collaboration tools have fundamentally changed the way modern organizations create business value. Attempting to secure these tools with techniques that were developed for legacy on-premise systems restricts collaboration, and misses a broad range of security events. Only by understanding the complete business context of an interaction, can security analysts identify, interpret, and determine the best way to respond to potential threats. Reco provides this business context.