Behavioral Biometrics Startup BioCatch Raises $30M In Funding Round

March 13, 2018 | Israeli cybersecurity startup BioCatch, an award-winning company that tracks behavioral biometrics for fraud detection, announced that it raised $30 million in a financing round led by Maverick Ventures, with the participation of American Express Ventures, NexStar Partners, OurCrowd, and others. The round brings BioCatch’s total amount raised since its founding in 2011 to over $41 million. The company uses more than 2,000 parameters to track user behavior and has at least 56 registered or pending patents. BioCatch said in a statement that the funds will go toward pursuing markets beyond banks, including insurance, cryptocurrency, P2P payments, healthcare, and government organizations. The company says its vision is to “redefine digital identity and enable renewed trust in online interactions.” Newly appointed CEO Howard Edelstein said in a statement, “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.” Edelstein said the company takes 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.”