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Behavioral Biometrics Company BioCatch Raises $30 Million

Behavioral Biometrics Company BioCatch Raises $30 Million

Earlier this month, BioCatch appointed Howard Edelstein to the role of CEO. The company raised $41 million to date

Amarelle Wenkert | 17:32, 12.03.18
Behavioral biometrics company BioCatch Ltd. announced on Monday it has completed a $30 million Series B financing round, led by venture capital firm Maverick Ventures. American Express Ventures, the strategic investment group of American Express, NexStar Partners, Kreos Capital, CreditEase, JANVEST Capital, and Jerusalem-based equity crowdfunding firm OurCrowd also participated in the round.

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Founded in 2010 and headquartered in Tel Aviv, BioCatch is a cybersecurity company that uses behavioral biometrics and human-device interaction analyses to protect users and data in large enterprises such as banks. The company uses a continuous authentication approach, collecting and analyzing over 2,000 behavioral traits from the moment users log in to prevent fraud in real-time. BioCatch says it monitors more than 5 billion transactions per month.

BioCatch CEO Howard Edelstein. Photo: PR BioCatch CEO Howard Edelstein. Photo: PR BioCatch CEO Howard Edelstein. Photo: PR

Earlier this month, BioCatch appointed Howard Edelstein to the role of CEO. Mr. Edelstein has served as chairman of BioCatch since 2016.

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"BioCatch's robust behavioral analytics platform is helping companies identify and stop fraudulent activity without sacrificing the user experience for legitimate customers," Harshul Sanghi, managing partner of Amex Ventures, said in a statement. "The demand for organizations to strike that balance will only increase as digital engagement with their customers grows, and cyber threats become more sophisticated,” Mr. Sanghi added.
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