BioCatch, a Tel Aviv based global leader in behavioral biometrics, closed a $30m financing round.
The round was led by Maverick Ventures, with additional participation from American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital and other existing investors.
Led by Howard Edelstein, Chief Executive Officer, BioCatch provides a behavioral analytics platform enabling companies to identify and stop fraudulent activity without sacrificing the user experience for legitimate customers.
It proactively collects and analyzes more than 2,000 parameters to generate user profiles and model different types of genuine and malicious behavior. BioCatch’s platform can address a wide range of threats at login and beyond by identifying malware, robotic activity, social engineering (phishing, etc.) and other cyber threats, which is a differentiator from traditional fraud approaches and other behavioral biometrics providers.
The company monitors more than 5 billion transactions per month and generates real-time alerts when behavioral anomalies are detected, stopping fraud at the source and reducing the significant operational costs associated with managing the fraud.