BehavioSec, a Luleå, Sweden-based provider of behavior based identity theft prevention solutions, has raised €1m in equity financing.
Investors include Conor Venture Partners, Partnerinvest Norr and Innovationsbron and existing backers Lunova, PNF Venture Capital and Norrlandsfonden.
The company plans to use the funding to accelerate its expansion into international markets and to better support and address the needs of its existing customer base.
Founded in 2007 and led by CEO Olov Renberg, BehavioSec provides a solution that creates a unique digital fingerprint of each end-user’s behavior. These fingerprints are utilized in identification and verification of the identity while the users are on their computer or accessing sensitive online services such as online stores.
The company’s products are based on research by students at Luleå Technical University.