Mastercard Snaps Up RiskRecon
Mastercard, the world’s second-largest payment processor, has acquired AI and data analytics solutions company RiskRecon. Terms of the deal were not disclosed.
The payments giant anticipates the purchase will help its clients defend against cyber threats and data breaches. Ajay Bhalla, president of cyber and intelligence for Mastercard, said that RiskRecon will boost Mastercard’s cyber security solutions. “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,” Bhalla added.
Logistically, RiskRecon will remain in tact. While the Utah-based company is now dedicated to supporting Mastercard solutions, RiskRecon will continue to help other industries such as healthcare and manufacturing protect consumer and payment data, as well as intellectual property.
RiskRecon was founded in 2015 by Eric Blatte and Kelly White, who now serves as the company’s CEO. “By becoming part of their team, we have an opportunity to scale our solution and help companies in new industries and geographies take steps to better manage their cybersecurity risk,” White said.
Prior to today’s acquisition, RiskRecon had raised $40 million in three rounds of funding.