RecordPoint has acquired Redactive to help highly regulated organizations discover and manage sensitive data to enable more secure AI implementations.
Sydney, Australia — RecordPoint today announced its acquisition of Redactive, a fast-growing Australian AI company focused on sensitive data discovery and classification. The terms of the deal were not disclosed.
This move bolsters RecordPoint’s AI capabilities as it looks to better serve highly regulated industries, conscious about data security and AI adoption. RecordPoint’s clients include major banks Westpac, NAB, Macquarie, and regulators such as APRA, ASIC, and the City of New York.
Within 18 months of founding, Redactive pioneered an enterprise-grade AI tool aimed at managing data. The company secured superfund HESTA and PEXA as its flagship clients and received funding from Blackbird, Felicis, Atlassian Ventures, and Zapier.
“With over 8 million pieces of data moving through our platform per day, RecordPoint is now handling more data transactions than the NASDAQ,” said Anthony Woodward, CEO of RecordPoint.
“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.”
Alex Valente, Redactive’s co-founder added: “This deal marks one of the first acquisitions of an AI-powered enterprise solution in Australia. It shows just how quickly AI is speeding up the pace of business,” said.
“RecordPoint is the ideal partner to scale Redactive’s impact globally. Anthony and his team see the value of what we’ve built, and it’s exciting to see the Redactive platform continue to be deployed in production across RecordPoint’s financial services customers in Australia and the US.”
Building on the success of Redactive AI, the founders will soon announce a new AI venture.
