AI Agent Security Company Reco Raises 93.5 Million Manat

    Reco raised $55 million (approximately 93.5 million manat) on Tuesday to expand its AI agent security solution. AI agents are programs that perform assigned tasks with a certain degree of autonomy. The company will spend the money on hiring new employees, sales, partnerships and customer support. Following the latest investment, the startup's total capital raised has reached $140 million (approximately 238 million manat).    This investment is an extension of the $30 million (approximately 51 million manat) Series B raised in February. The funding round included the investment arm of AT&T, a Reco customer, as well as Forestay and Quadrille Capital. According to Reco, the company's valuation has more than doubled since February. The exact amount was not disclosed.    Until last year, Reco primarily sold a product that identified and protected SaaS services, meaning software that operates over the internet. The updated platform builds a map of connections, linking AI agents to applications, people, accounts and permissions. Security teams can see what data an agent can access and revoke unnecessary access. The system also examines the prompts given to agents and the tools they access.    Reco CEO Ofer Klein said companies are building and deploying AI agents faster than they can monitor them. At one customer that is among the 100 largest companies in the US, the platform discovered 21,000 previously unknown agents. At another major financial company, it emerged that an agent created by a former employee had gained access to Salesforce data. The agent could share that data with a domain the company did not control.    At least 24 companies are already operating in the AI agent security market. Some solutions examine the tools agents use and their access to data. Others detect unauthorized AI use. Cymphony said it found approximately 85,000 files that AI tools could access at a US company. According to HiddenLayer, the number of customers running agents in critical systems has exceeded 50.    Reco has more than 100 customers. Financial services companies account for approximately 40% of its business. The company's annual recurring revenue is currently in the tens of millions of dollars, and Reco expects that figure to triple this year. The platform works with more than 280 applications, and new applications can be connected to the system within a few days. Data obtained from browsers and networks also helps detect agents in applications that are not directly connected to the platform.