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Cooperation security provider, RecoLabs (Reco) has announced that it has raised $ 30 million in Serie A to provide collaboration tools in today’s modern enterprise.
The company’s collaborative security platform is designed to enable organizations to securely view and share information through multi-channel collaboration tools such as Slack, G-Suite, Jira and others.
Remote and hybrid operating settings continue to be affected business ecosystem, employees expect more and more transparency, better technology, improved collaboration, and more flexibility. As a result, the number of new technologies for digital workplace solutions has increased, and collaboration tools are part of this stack.
However, this development poses a new challenge. Recently report reports that remote work increases the frequency of cyber attacks by 238%. This is stated in another report by Verizon 85% all violations involve the use of human vulnerability. This emphasizes that most of the violations are caused by their users collaboration tools and it is important that companies understand the context of these violations.
Reco claims to have created tools to help organizations secure their sensitive assets by mapping and monitoring contextual metadata. The company claims that it uses application machine learning (ML) to create a model of interaction and collaboration between employees, teams, and external suppliers that enables them to understand and visualize threats from collaboration and sharing. According to Reco, this will result in the creation of a contextual knowledge schedule that allows security teams to detect and respond to unauthorized or unusual activities in real time.
Workflow in a modern enterprise
Means of cooperation becomes a new standard and an indisputable part of today’s business. In fact, Gartner predicted it roughly 80% of employees will use collaboration tools. These tools provide access to technology that allows local and remote workers to communicate and communicate both in and out of their work environment.
One after the COVID-19 epidemic 176% The increase in collaboration programs installed on enterprise devices makes collaboration security risk management a key focus for CISOs.
While collaboration tools allow people to work faster and more efficiently, Reco co-founder and CEO Ofer Klein said they also expose companies to a new set of vulnerabilities and growing risk areas. According to Reco, these risks and problems can be divided as follows:
Inability of old systems to continue
Older systems are computers that are still in use instead of newer versions, with outdated software, hardware, or both. Systems continue to meet the needs they have created, but they can no longer be scaled up. They wear out quickly and require many static rules that slow down operations.
Lack of dynamism can result in a lot of noise – either they reveal everything and hinder business, or they do not reveal enough. Due to the lack of a dynamic and resource-intensive structure, security teams have to manually change rules such as permits, whitelists, and deal with warnings on a regular basis, which requires excessive taxes to manage them.
Older systems suffer from a lack of vision
Old tools do not understand why this happened. For example, this can happen by applying static rules that prevent specific files from leaving the organization. In the past, information was simple because it did not leave the business, but now it is more difficult because the information is legally shared outside the organization. However, there is no way to successfully maintain collaborative tools without first understanding why this is so.
CISOs, employees and companies as a whole are affected by these two main problems. According to Klein, the protection of key assets is a great responsibility for any company, and the only way to recognize the security challenges of a current partnership is to understand the business context of each interaction. Reco claims that it plays a big role in this.
Reco says organizations can use their security solutions to intelligently detect and fix common problems, such as accidental third-party access and the transfer or sharing of files to the wrong user. It achieves this using Reco Ontology, a broad metadata view supported by two internal algorithms: Process-Discover, which detects interactions, classifies objects, and categorizes them through their actual business process.
From content-based security to context-based security
Internal risk and data loss prevention (DLP) is becoming a major challenge for businesses with a distributed workforce and growing confidence in technology. While it is clear that modern workplaces require modern security solutions, a number of organizations are reluctant to abandon their old systems. This could be a concern about the unknown, the high cost of technology, or the lack of time to revolutionize.
Almost after the pandemic 74% Relies on old systems to complete the work of manufacturing plants 90% of organizations suffocated in terms of growth and efficiency due to outdated technology.
Klein said in an email interview that Reco offers a new approach to collaborative security by exploring the context and cause of each collaborative event. Instead of reading the content of user interactions, Reco claims to have developed a Business Context Rationale (BCJ) engine that uses machine learning and cognitive analytics to find out why the attack happened, not how it happened. According to the company, this is a “game changer” that distinguishes it from the competition.
According to Klein, BCJ is responsible for creating a partnership map and understanding the business context. The collaboration map describes the context of each interaction between teams within the company. Reco can use BCJ to create security incidents based on non-business incidents. Motivation of actions develops over time due to a better understanding of dynamic organization. Reco says this eliminates the need for manual intervention in reporting security incidents.
In addition, the company claims that its Business Context AI engine does not require any manual policy creation, labeling, classification or ongoing maintenance. It claims that it frees up 40% of the work of security teams by providing a high level of protection without slowing down a growing business.
Reco says its “agent-free” feature allows users to connect in minutes and get instant value. According to the company, this results in the least number of false positives, but also detects events and situations that no other tool can detect – such as sharing sensitive information on the wrong Slack channel. Reco claims to read only metadata, not the actual content of emails, Slack messages, or files.
Reco plans to invest in expanding its team and accelerating its entry into the US market. The series was led by Zeev Ventures and Insight Partners with the participation of Boldstart Ventures, Angular Ventures and leading private investors.
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