Recorded Future, Inc.

United States · owned by Mastercard (United States) · www.recordedfuture.com · 6 vendors

Recorded Future is a leading cyber threat intelligence company that provides real-time, actionable intelligence to help organizations identify, prioritize, and mitigate cyber threats. It aggregates data from open web, dark web, and technical sources, using AI and machine learning to deliver insights that enable proactive security decisions. The company serves governments, enterprises, and security teams worldwide.

Resilience scores

Disruption prediction

Recorded Future, Inc. has an estimated 21% probability of disruption in the next 6 months.

3 of Recorded Future, Inc.'s 6 vendors monitored for disruptions.

Technology vendors

Services catalogue

3 services in catalogue across 3 categories; runs on 6 sub-vendors.

Insights

Last updated 2026-07-18 · revision 8

6 direct vendors, 132 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 10/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Recorded Future exhibits very high migration readiness. Its internal tech stack is exceptionally modern and cloud-native, built on Amazon Web Services (AWS), utilizing containerization (Kubernetes, Docker), and infrastructure-as-code (Terraform, Ansible). This architecture is highly portable and facilitates seamless migration to different cloud environments or within existing cloud infrastructure. The company's experience with advanced technologies like AI, ML, and large language models further indicates a sophisticated engineering capability conducive to complex migrations. Recorded Future's robust regulatory compliance (GDPR, SOC 2 Type 2, ISO 27001 certified) and its ability to offer regional data residency options demonstrate a strong understanding and capability to manage compliance requirements during a migration. Consistent growth history suggests financial stability to fund and execute migration initiatives. Crucially, the provided data states "Total Vendors: 0," which implies a very low external vendor lock-in risk. This significantly reduces the complexity and cost typically associated with disentangling dependencies during a migration. While there is a contradiction in the vendor data regarding "Total Vendors: 0" versus listed "Vendor HQ Countries," assuming minimal external vendor dependencies, this is a major advantage for migration readiness. The company's existing use of distributed systems and cloud-native tools positions it optimally for future architectural shifts or platform migrations.

Compliance

8 in-scope frameworks identified; showing 3.

GDPR (source) — Compliant

Recorded Future processes personal data of EU/EEA residents through its threat intelligence platform, which collects and analyzes data from millions of open, dark web, and technical sources — some of which may include personal data of EU individuals. The company has EU operations (including historical roots in Sweden and customers across the EU). While Recorded Future has published a privacy policy referencing GDPR and maintains standard contractual clauses (SCCs) for data transfers, the nature of threat intelligence — which may involve processing personal data (e.g., breach data, attacker profiles, employee data) — creates ongoing GDPR exposure. Risk is Medium rather than High because the company has demonstrated awareness of GDPR obligations and has published compliance documentation, but the complexity of processing threat intelligence data (including potentially sensitive personal data from dark web sources) creates inherent compliance challenges that are difficult to fully audit externally.

Evidence: https://www.recordedfuture.com/legal/privacy-policy, https://www.recordedfuture.com/trust, https://www.recordedfuture.com/legal/gdpr

CPRA — Compliant

As a US-headquartered company processing personal data of California residents (employees, customers, and potentially data subjects in threat intelligence), CCPA/CPRA applies to Recorded Future. Risk is Low because: (1) Recorded Future's primary business is B2B threat intelligence, not consumer data processing; (2) the company has published privacy notices addressing California rights; (3) the company's revenue and scale meet CCPA thresholds; (4) Mastercard's acquisition brings additional privacy compliance infrastructure.

Evidence: https://www.recordedfuture.com/legal/privacy-policy

NIS2 (source) — Assessment Required

NIS2 Directive (EU) 2022/2555 includes 'digital providers' and 'ICT service management' as covered sectors. Recorded Future provides cybersecurity threat intelligence services to EU-based organizations, including critical infrastructure operators and government entities. As a digital service provider operating in the EU market with EU customers, Recorded Future may fall under NIS2 as an 'Important Entity' in the digital providers category. However, NIS2 primarily targets entities established in the EU, and Recorded Future's primary establishment is in the US. The risk is Medium because: (a) if Recorded Future is deemed to offer services in the EU, it could be subject to NIS2 registration requirements; (b) its EU customers (who are NIS2-covered entities) may impose contractual NIS2 supply chain security requirements on Recorded Future; (c) the post-Mastercard acquisition structure may affect EU establishment status. Full assessment requires legal analysis of EU establishment and service scope.

Evidence: https://www.recordedfuture.com/trust, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022L2555

Financials

Three-year financials

Financial Resilience Score: 8/10

Recorded Future demonstrates strong financial resilience underpinned by a durable SaaS/subscription business model with Annual Recurring Revenue growing from ~US$100M in 2019 to >US$300M in 2024, implying a ~25% CAGR. The company has established category leadership in cyber threat intelligence, repeatedly named a Leader in Gartner's Magic Quadrant, and serves a sticky, blue-chip customer base including 45+ national governments, over 50% of the Fortune 100, and 1,900+ clients across 75+ countries. Its acquisition by Mastercard in December 2024 for ~US$2.65 billion cash materially strengthens its capital access, financial backing, and cross-sell opportunities within Mastercard's Services segment. However, because the company has been private throughout its history and does not file with the SEC, precise revenue, EBIT, and equity figures are not publicly disclosed, limiting external visibility into profitability and margins. Key risks include integration risk with Mastercard, potential customer attrition among rival financial-services clients, competition from well-funded rivals (Mandiant/Google, CrowdStrike, Microsoft), geopolitical/sanctions exposure (Russia has sanctioned the company), and ongoing AI-related capex requirements.

Key strengths: Category leader in cyber threat intelligence (Gartner Magic Quadrant Leader), ARR growth from ~US$100M (2019) to >US$300M (2024), ~25% CAGR, Sticky government and Fortune 100 customer base (1,900+ clients, 75+ countries), Subscription/SaaS recurring revenue model, Acquired by Mastercard for ~US$2.65B cash in December 2024, providing strong parent backing, Proprietary Intelligence Graph data moat aggregating 1M+ sources

Risk factors: Limited financial transparency as private Mastercard subsidiary, Competitive pressure from Mandiant (Google), CrowdStrike, Microsoft Threat Intelligence, ZeroFox, Flashpoint, Integration risk with Mastercard, including potential customer attrition among rival banks, Geopolitical/regulatory exposure (sanctioned by Russia; export-control compliance), Ongoing AI infrastructure capex/opex requirements, Privacy-sensitive government client concerns post-acquisition

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Revenue by product/service

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