BioCatch generates $10 million funding to boost rapid development

Research and Development

BioCatch, the worldwide leader in behavioral biometric authentication and threat detection solutions for mobile and Web applications, announced today the completion of its $10 million financing round. The funding will be utilized for the expansion of R&D activities and constant growth in key markets, covering the U.S and Europe. The venture capital firm Blumberg Capital led the funding round along with equity crowdfunding firm OurCrowd. Current investors also took part in the funding round.

BioCatch productively collects and examines over 400 bio-behavioral, subjective and physiological specifications to design unique user profiles for visitors to banking and ecommerce sites. BioCatch also largely reduces the resistance related with risky transactions, and then verifies visitors upon their return to a site as well as recognizes users exhibiting behaviors persistent with scammers. Businesses using BioCatch as a mechanism to enhance the employee verification experience while securing permission to critical IT assets.

According to Benny Rosenbaum, CEO, BioCatch – The company’s main aim is to facilitate efficient fraud protection, while enhancing user-experience for clients visiting banking and eCommerce sites. This funding will permit us to carry on strengthening our offering and stretch our worldwide reach in strategic markets, simultaneously keeping the world’s biggest and most significant institution safe and secure.Read complete story at http://www.tendersontime.com/blog-detail/biocatch-generates-10-million-funding-boost-rapid-development-42.php