Funding will be used to improve the product plus help with go-to-market efforts.
Data leaks continue to be a growing issue in 2022. It seems we can’t go a day without hearing about a social platform or website being breached or leaving data on unsecured servers. Reco looks to address that by helping businesses manage and secure their data.
Founded in 2020, Reco has just secured a $30 million series A funding round led by Zeev Ventures and Insight Partners with participation from BoldStart Ventures, Angular Ventures, Jibe Ventures, CrewCapital, Cyber Club London, and leading private investors.
According to CEO Ofer Klein, funding will be used for both product development and go-to-market efforts. And who will Reco be marketing to? Mainly businesses that contain a number of collaborative teams that use multiple services.
The increased use of tools in today’s working environment also increases the amount of data that is stored on servers and transferred between devices. These connected tools, by nature, are vulnerable and allow bad actors to skim data or breach systems.
In an email interview with TechCrunch, Klein notes, “The distributed workforce is getting bigger. The number of collaboration tools in use in a single organization increases daily. And each of these introduces new security risk.”
Reco uses a “contextual” approach to spotting and alerting customers to these data points. It uses AI and “business collaboration maps” to spot issues and Reco employs a generally hands-off approach to the process to free up security and IT teams for other tasks.
“The pandemic pushed companies to broadly use collaboration tools to support their distributed workforces. Companies started using tools like Slack, Teams, and Google Drive with their customers and vendors to accelerate business processes,” Klein tells TechCrunch.
“But there is no visibility and limited control over these channels … Reco is positioned well to lead the next generation of security solutions that focuses on enabling business while dramatically saving money and effort.”