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Mastercard Acquires RiskRecon To Manage Cybersecurity, Risk Mitigation

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Mastercard today acquired RiskRecon, a Salt Lake City Startup that provides artificial intelligence (AI), data analytics, cybersecurity and risk mitigation solutions to support companies in protecting their cyber systems and infrastructure. The companies didn’t disclose any financial terms.

In this rapidly evolving world, keeping up with threats is very important. Any data breach or ransomware attack place billions on risk which also jeopardizes consumer trust. RiskRecon will help in organizing company’s risk profile. The company has previously worked with partners such as Optiv. It will be intresting to see how the program evolves under Mastercard’s ownership.

“Through a powerful combination of AI and data-driven advance technology, RiskRecon offers an exciting opportunity to complement our existing strategy and technology to secure the cyber space,” Ajay Bhalla, president of cyber and intelligence for MasterCard, said in a statement.

RiskRecon CEO Kelly White told in a TechCrunch interview back in 2016 after the company’s $3 million seed round how the company takes information that is readily available on the internet and analyzes a company’s overall security risk. “If you stand up web servers and DNS servers, these are intentionally discoverable because they are providing services on the internet. Systems reveal the software being run and version information from which you can determine security performance.”

White sees the acquisition as an opportunity to be a part of a larger organisation. “By becoming a part of their team, we have an opportunity to scale our solution and help companies in new industries and geographies take steps in better manage their cybersecurity risk,” White said in a statement.

RiskRecon was launched in 2015 and has raised a total of $40 million according to Crunchbase data. Investors list include names like Accel, Dell Technologies Capital, General Catalyst and F-Prime Capital. It has faced stiff competition from New York City-based SecurityScoreCard that launched in 2013 and has raised over $112 million according to Crunchbase.

Ben is a digital entrepreneur and founder of OnTechEdge.com. He is a technology passionate who loves sharing his ideas on smartphones and gadgets. He looks forward to imparting the spectrum of his insight and verdicts on the ‘Technology-driven world’ of today. He plans to take OntechEdge forward with the consistent support from you readers, friends and family! Ben Kemp is also author of the book "How To Tell a Story On Social Media in 2020". Direct email address: [email protected]

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