BioCatch, a worldwide pioneer in behavioral biometrics, reported today that it has closed a $30 million financing round, establishing its development design and vision to rethink digital identity and empower renewed trust in online collaborations.
The round was driven by Maverick Ventures, with extra support from American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital, and other existing financial specialists. With identity extortion and cybercrime on the rise, the idea of computerized personality is broken. Behavioral biometrics, which BioCatch spearheaded, holds the guarantee to overturn the cybersecurity worldview and give identity assurance throughout the associated economy.
“BioCatch helps to answer the question, ‘who are you’ in an online world where fraudsters operate with the legitimate credentials of others, making it very hard to distinguish them from authorized users,” said Howard Edelstein, BioCatch Chief Executive Officer. “We take pride in the track record we have amassed and the role that we play as an integral part of our clients’ identity strategy. This strategy cuts across the digital ecosystem, from stopping fraud in real-time to preventing fake accounts from being opened in the first place, all while enabling a seamless user experience.”
“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,” Edelstein added.
It’s a demonstration of the convincing offer of BioCatch’s anti-fraud technology, which centers around behavioral biometrics. BioCatch’s eponymous arrangement surveys more than 2,000 parameters relating to end client conduct and would thus be able to hail odd conduct that may show extortion and different malicious computerized dangers. It’s this modern way of dealing with advanced security that has gotten BioCatch to an unmistakable quality. The platform is being utilized to screen more than 5 billion exchanges for each month and has been coordinated into Samsung SDS’s front line NexSign validation stage.