Reco raises $55M as AI agent security vendors pile in
Reco, the AI agent and SaaS security startup, said Tuesday it raised $55 million in a Series B extension as enterprises scramble to find and govern agents they did not know they had, TechCrunch reported from an exclusive interview with CEO Ofer Klein.
Companies are spinning up AI agents faster than security teams can count them. Reco just took another $55 million because finding 21,000 agents one customer did not know it had is the kind of scare that opens checkbooks.
On Tuesday, 29 September 2026, TechCrunch reported that Reco said it raised $55 million. The round builds on a $30 million Series B from February. A Series B is a growth round that comes after a startup’s earlier fundraising. An extension is more money on that same round. Ram Iyer’s story is an exclusive interview with Ofer Klein, Reco’s co-founder and chief executive. Those lines are TechCrunch’s.
AT&T invested through its venture arm. TechCrunch calls AT&T a Reco customer. Forestay and Quadrille Capital invested as well. A venture arm is the part of a large company that buys stakes in startups. The story does not say how much each investor put in. Those names are TechCrunch’s, from Klein.
The new funding brings Reco’s total capital raised to $140 million, TechCrunch said. That figure adds this $55 million to the money the company had already raised. A valuation, the price put on the whole company, is a different number.
Klein did not give that price as a single dollar figure. He said the valuation has “more than doubled” since the Series B announcement in February. He estimated it in the “high hundreds of millions” and would not share specifics. That phrase is a range, not a price a reader can quote. TechCrunch does not print an exact valuation. Tuesday’s story also does not restate the price from the February announcement.
The operating figures Klein gave are ranges. Annual recurring revenue is in the “double-digit millions of dollars.” Annual recurring revenue is the yearly pace of repeat sales. Double-digit millions means at least $10 million and short of $100 million a year. He expects that pace to triple this year. Tripling would take a pace in the tens of millions and multiply it by three before the year is over. The startup has more than 100 customers. Financial services companies account for about 40 percent of the business, about two dollars in every five. Those lines are Klein’s, as TechCrunch prints them.
The product has moved. Until last year, TechCrunch says, Reco mostly sold software to map and secure SaaS and AI platforms. SaaS is software a company rents online, such as Slack or Salesforce, instead of installing it on its own machines. Reco has repositioned around a context graph that connects agents to apps, people, accounts, and permissions. An agent, here, is software that takes actions inside those tools, not only a chatbot that answers a question. A context graph is a map of those links, so a security team can see what an agent can reach and shut off access it does not need. Those lines are TechCrunch’s account of the shift.
Klein said companies are building and deploying agents faster than they can keep track of them. At one Fortune 100 customer, he said, Reco’s platform found 21,000 agents the company did not know about. Fortune 100 means one of the hundred largest companies on that magazine’s U.S. list. Twenty-one thousand is the count Klein gave for agents that customer had not catalogued. At a large financial-services customer, TechCrunch says the startup claims it found an agent a former employee had set up. That agent could open Salesforce and share the data with a domain the company could not see. A domain, here, is an outside internet address. TechCrunch does not name either customer. The 21,000 is what Klein said the platform found. The former-employee case is the claim TechCrunch attributes to the startup.
Klein told TechCrunch: “The market demand right now for agent security is not only about the agent itself; it’s about the entire ecosystem end-to-end.” An ecosystem, in that sentence, means the apps, the people, the accounts, and the permissions around the agent. The quotation is his, in the exclusive.
Klein also described how the platform looks for those agents. It integrates with more than 280 apps, and he says a new integration can be added within days. An integration is a direct connection into one of those apps. The platform uses browser and network signals to find agents outside the apps it connects to directly. A browser signal is activity in the web browser. A network signal is traffic on the company network. It has controls that inspect prompts and tool calls. A prompt is the instruction given to the agent. A tool call is the agent reaching another program to take a step. Those lines are TechCrunch’s, from Klein.
The new capital is for hiring, sales, partnerships, and customer support. That plan for the money is Klein’s, as TechCrunch prints it.
TechCrunch sets the round in a crowded field. A look at public Crunchbase and PitchBook profiles, the story says, turns up at least two dozen companies selling some form of AI agent security. Crunchbase and PitchBook are databases that list startups and their funding. That “at least two dozen” is TechCrunch’s glance at those public profiles. Reco did not publish that vendor count.
In plain terms, Reco told TechCrunch on Tuesday that it raised $55 million more on its February Series B, from AT&T’s venture arm, Forestay, and Quadrille Capital, and that total capital raised is now $140 million. Klein says the company’s price has more than doubled since February and sits in the high hundreds of millions, without a specific figure. He also says one large customer had 21,000 agents it had not counted.
The picture is Reco’s product screen for the Accounts & Roles Agent. The panel is marked high risk and shows OpenAI and Slack admin accounts. A lime frame surrounds the screen. It is the company’s interface, from its platform page. It is the product, not a photograph of the round or of the chief executive.