Behavioral Biometrics Company BioCatch Raises $30 Million
Earlier this month, BioCatch appointed Howard Edelstein to the role of CEO. The company raised $41 million to date
17:3212.03.18
Behavioral biometrics company BioCatch Ltd. announced on Monday it has completed a $30 million Series B financing round, led by venture capital firm Maverick Ventures. American Express Ventures, the strategic investment group of American Express, NexStar Partners, Kreos Capital, CreditEase, JANVEST Capital, and Jerusalem-based equity crowdfunding firm OurCrowd also participated in the round.
BioCatch CEO Howard Edelstein. Photo: PR
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Founded in 2010 and headquartered in Tel Aviv, BioCatch is a cybersecurity company that uses behavioral biometrics and human-device interaction analyses to protect users and data in large enterprises such as banks. The company uses a continuous authentication approach, collecting and analyzing over 2,000 behavioral traits from the moment users log in to prevent fraud in real-time. BioCatch says it monitors more than 5 billion transactions per month.
BioCatch CEO Howard Edelstein. Photo: PR
Earlier this month, BioCatch appointed Howard Edelstein to the role of CEO. Mr. Edelstein has served as chairman of BioCatch since 2016.
"BioCatch's robust behavioral analytics platform is helping companies identify and stop fraudulent activity without sacrificing the user experience for legitimate customers," Harshul Sanghi, managing partner of Amex Ventures, said in a statement. "The demand for organizations to strike that balance will only increase as digital engagement with their customers grows, and cyber threats become more sophisticated,” Mr. Sanghi added.