Payment services firm Mastercard has agreed to acquire US-based cybersecurity data provider RiskRecon for an undisclosed amount, allowing computing technology provider Dell to exit.
RiskRecon uses artificial intelligence to compile detailed cyber risk reports tailored to the requirements of each corporate customer, recommending specific actions.
The deal comes after $40m in funding, the most recent of which was a $25m series B round in August 2018 led by Accel and backed by Dell unit Dell Technologies Capital, General Catalyst, F-Prime Capital, Mickey Boodaei, Rakesh Loonkar and Paul Sagan.
Dell Technologies Capital had already led the company’s $12m series A round in mid-2017, investing alongside F-Prime, General Catalyst and Sagan. It followed a $3m seed round led by General Catalyst the year before.
Ajay Bhalla, Mastercard’s president of cyber and intelligence, said: “The innovations from the talented team at RiskRecon will further accelerate our suite of cyber solutions designed to help financial institutions, merchants and governments secure their digital assets.
“Through a powerful combination of AI and data-driven advanced technology, RiskRecon offers an exciting opportunity to complement our existing strategy and technology to secure the cyber space.”
