AI governance drives RecordPoint acquisition
Data governance vendor RecordPoint has acquired Redactive AI, an Australian artificial intelligence startup.
The move addresses rising data security concerns amid rapid enterprise AI adoption. It combines RecordPoint's governance platform with Redactive's tools for sensitive data discovery and classification.
The acquisition targets highly regulated industries. RecordPoint’s clients include Westpac, NAB, APRA, and ASIC. Redactive, founded 18 months ago, secured HESTA and PEXA as flagship clients.
Financial terms of the deal were not disclosed.
The announcement noted Redactive's founders "will soon announce a new AI venture".
RecordPoint CEO Anthony Woodward said Redactive's solution will enhance AI security.
“With over 8 million pieces of data moving through our platform per day, RecordPoint is now handling more data transactions than the NASDAQ,” said Woodward.
“Redactive’s solution will be instrumental as we look to bolster our capabilities with AI security and governance and continue to scale our operations. This is to ensure that, as the volume of data we handle for our clients exponentially grows, our capability grows with it.”
“The speed and precision with which the Redactive platform was built made it an ideal candidate for our plans for future growth. While there’s still room to grow in both the US and Australia, we’re eager to bring RecordPoint’s solution into new markets in Asia and Europe.”
Redactive co-founder Alex Valente said the deal scales Redactive's impact globally. He called it "one of the first acquisitions of an AI-powered enterprise solution in Australia".
Redactive received funding from Blackbird, Felicis, Atlassian Ventures, and Zapier.