BioCatch, the global leader in biometric behavioral authentication and threat detection, today announced the completion of a $10 million funding round. The funding will be used to expand R&D efforts and to continue growth in key markets, including the U. Oh, S And Europe is The financing round was led by the venture capital firm Blumberg Capital and the crowdfunding company OurCrowd Existing investors also participated in the financing round
BioCatch proactively collects and analyzes over 400 bio-behavioral, cognitive and physiological parameters to create unique user profiles for visitors to banking and eCommerce sites. BioCatch also significantly reduces friction associated with risky transactions and then authenticates visitors on their return to the site as well as identifies users exhibiting behaviors consistent with fraudsters. Enterprises use BioCatch as a tool to enhance employee authentication experience while protecting access to critical IT assets.
‘BioCatch’s goal is to provide effective fraud protection while improving user experience for customers visiting banking and eCommerce sites,’ said BioCatch CEO Benny Rosenbaum. ‘This funding will allow us to continue to strengthen our offering and expand our global reach in strategic markets, while keeping the world’s largest and most influential institutions safe and secure. ”
Over the last year, the company has seen significant growth and is deployed in a number of banks, eCommerce sites and businesses around the globe. Leaders in the field of authentication and security, including former senior employees of Trustee, Vasco and RSA, joined BioCatch and shared their vision. The company currently employs 20 members of the team
BioCatch is easily integrated in existing security structures and works seamlessly with other fraud detection systems. The solution showed an 80% reduction in false positives for the detection of the same amount of fraud, as well as spotted cybercrime activities that other solutions could not detect, such as Remote Access Attacks (RATs) and Malware.
‘We are very excited to partner with BioCatch and be part of a forward-looking company that helps protect consumers and businesses from cyber threats,’ said Elan Zivotofsky, General Partner at OurCrowd. ‘With a global investor network, OurCrowd can help direct BioCatch to large potential customers, key industry connections and strategic partners around the world. ”
As part of the new partnership, Ron Moritz of OurCrowd and Alon Lifshitz of Blumberg Capital will join the Board of Directors of BioCatch.
BioCatch is a leading provider of solutions for mobile and web applications for behavioral authentication and threat detection. Available as a cloud based solution, BioCatch proactively collects and analyzes more than 400 bio-behavioral, cognitive and physiological parameters to generate a unique user profile. Banks and eCommerce websites and mobile apps use BioCatch to significantly reduce risky transaction friction and protect users from cyber threats, such as Account Takeovers, Man-in-the-Browser (MitB) Malware and Remote Access (RAT) attacks. In addition, BioCatch provides an enterprise tool that improves employee authentication experience while protecting access to critical IT assets. The company was founded in 2011 by experts in neural science research, machine learning and cyber security and is currently active in leading banks, eCommerce sites and businesses across North America, Latin America and Europe. Visit http://www for more information. Bio-catch Come on,
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