BioCatch, a Tel Aviv, Israel-based provider of behavioral biometrics solutions, raised $145m in Series C funding.
The round was led by Bain Capital Tech Opportunities, the growth investing business of Bain Capital, with participation from new investors Industry Ventures as well as existing shareholders American Express Ventures, CreditEase, Maverick Ventures and OurCrowd, among others.
The company intends to use the funds to accelerate rapid growth, broaden its product offerings and further support its expanding client base into new verticals.
Led by Howard Edelstein, Chairman & CEO, BioCatch has developed behavioral biometrics technology that seeks to protect some of the world’s largest financial institutions, their clients and their clients’ assets from fraud and other types of criminal activity, including sophisticated social engineering voice scams. Unlike traditional security methods such as usernames and passwords, behavioral biometrics monitors user behavior throughout each online session, providing continuous protection and ensuring a secure and seamless online experience.
The company grew annual recurring revenues by 150% in 2019 and now counts more than 40 of the world’s largest global financial institutions as customers.