Reco raises $55M with AT&T for securing SaaS and AI agents

The round extends a $30 million Series B announced in February and lifts Reco's total funding to $140 million. AT&T Ventures invested after first becoming a customer, and Forestay and Quadrille Capital also joined as new backers. CEO Ofer Klein put the valuation in the "high hundreds of millions" and said it has more than doubled since February. He also said annual recurring revenue is in the double-digit millions and should triple this year. The company has more than 100 customers, with financial services about 40% of the business. The money will go to hiring, sales, partnerships and support. The product is a mapping layer, the Reco Graph, that links agents to the apps, identities, permissions and data they can reach. It has more than 280 app integrations. Reco says one Fortune 100 customer found 21,000 agents it did not know it had. The company is now competing with Astrix Security and Obsidian Security for non-human identity budgets. For AI builders, the buyer's concern is shifting from what an agent can answer to what it can do inside enterprise systems. Vendors selling agents into large companies should expect questions about OAuth scopes, service accounts and audit trails, and a corporate customer investing in its own security vendor shows those questions are already funded.