Biometrics firm Biocatch raises $30m investment
Written by Chris Lemmon
Behavioural biometrics specialists Biocatch has announced that it has closed a $30 million funding round, led by Maverick Ventures.
The company collects and analyses more than 2,000 parameters to generate user profiles and model different types of genuine and malicious behaviour. The platform is able to recognise malware, robotic activity, social engineering, phishing and other cyber threats.
The company monitors more than 5 billion transactions per month and generates real-time alerts when behavioural anomalies are detected, stopping fraud at the source and reducing the significant operational costs associated with managing the fraud.
Howard Edelstein, chief executive officer at Biocatch, said: “As the company pursues its growth trajectory, we are pleased to welcome our new investors into the fold. This latest investment round is a testament to the commitment and the capacity that we have to change the way identity is managed online.
“Relationships with companies like Experian, LexisNexis Risk Solutions, Samsung SDS and others demonstrate how BioCatch is contributing to digital transformation, and this round of funding will enable us to take our efforts to a whole new level.”
BOther participants in the funding round included American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital, and other existing investors.