BioCatch, a Boston, MA-based provider of behavioral biometric authentication and threat detection solutions, completed a $10m financing round.
The round was led by Blumberg Capital and equity crowdfunding firm OurCrowd with participation from existing investors. As part of the new partnership, Ron Moritz of OurCrowd and Alon Lifshitz of Blumberg Capital will be joining BioCatch’s Board of Directors.
The company intends to use the funds to expand R&D efforts and continue growth in key markets, including the U.S. and Europe.
Led by CEO Benny Rosenbaum, BioCatch provides enterprises with a cloud-based behavioral authentication and threat detection solutions for mobile and Web applications. Integrated into existing security structures and works with other fraud detection systems, it proactively collects and analyzes over 400 bio-behavioral, cognitive and physiological parameters to create unique user profiles for visitors to banking and eCommerce sites. Banks and eCommerce websites and mobile apps use BioCatch to reduce friction associated with risky transactions and protect users against cyber threats, such as Account Takeovers, Man-in-the-Browser (MitB) Malware and Remote Access (RAT) attacks.
The company, which currently employs 20 team members, also provides an enterprise tool that improves the employee authentication experience while protecting access to critical IT assets.