Mastercard Inc (NYSE:MA) has taken over startup – RiskRecon to help organizations with security assessments. The Salt Lake City-based startup is increasingly important for companies such as Mastercard to help its customers to navigate cyberspace successfully. Mastercard expects to close the deal in Q1 2020 and subject to regulatory nod.
Customers get an objective of a risk profile
The customers of Mastercard will get a risk profile of the company following the takeover of RiskRecon. President (Cyber & Intelligence) of RickRecon said it uses data and AI-driven advanced technology to protect the cyberspace. The company that conducts businesses online or owns a website that uses DNS servers and web servers discloses information about the installed software and the version. RiskRecon uses this information to assess the risk to the users when they access the servers and software of business. Therefore, users can easily navigate cyberspace.
RiskRecon to scale up its solutions
RiskRecon mobilized seed round funding of $3 million in 2016. In the aftermath of that, Kelly White, Chief Executive Officer of RiskRecon, said the company gathers the available information online and assesses the security risk. He is excited about the integration of a large organization and its team. The integration helps RiskRecon to scale up its solutions and help the new geographies and industries to initiate measures to manage cybersecurity risks.
The startup RiskRecon, which is established in 2015, initially raised $40 million. Its investors are F-Prime Capital, Dell Technologies Capital, Accel, and General Catalyst. RiskRecon faces competition from SecurityScoreCard, a company established in 2013 in New York.
Mastercard and Doconomy extend collaboration
Mastercard and Doconomy have extended their collaboration to fight climate change. As a result, cardholders can understand the carbon footprint of their purchases. The Mastercard issuer is responsible for helping the cardholder with the necessary knowledge and information to reduce the carbon footprint with intelligent purchase decisions.
The divisional president for Baltics, Nordic, Ireland, the UK, and Mastercard, Mark Barnett, said climate change is a significant issue. It uses renewable energy and a science-based approach to reduce the impact on the climate. To help extend the carbon tracking, Mastercard has invested in Doconomy. A cloud-based software service – Aland Index, which is used by Doconomy, helps to CO2 emission.