“This latest investment round is a testament to the commitment and the capacity that we have to change the way identity is managed online.”- Howard Edelstein, CEO, BioCatch
BioCatch has raised $30 million in its latest funding round, the company has announced. The round was led by Maverick Ventures and also saw contributions from American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JENVEST Capital, and others.
It’s a testament to the compelling value proposition of BioCatch’s anti-fraud technology, which revolves around behavioral biometrics. BioCatch’s eponymous solution assesses over 2,000 parameters pertaining to end user behavior, and can thus flag anomalous behavior that may indicate fraud and other malicious digital threats.
It’s this sophisticated approach to digital security that has brought BioCatch to a prominence in which the platform is being used to monitor over 5 billion transactions per month, and has been integrated into Samsung SDS’s cutting-edge NexSign authentication platform. BioCatch’s expertise will also be brought to the fore in FindBiometrics’ upcoming webinar “New Frontiers in Mobile Biometrics”, which will tackle the issue of mobile authentication and security with participation from Precise Biometrics and the GSMA as well.
As for the new funds delivered by investors’ excitement over BioCatch’s technology, the company said in a statement that the capital will have the effect of “cementing its growth plan and vision to redefine digital identity and enable renewed trust in online interactions.”
(Originally posted on FindBiometrics)