03 September 2015

Behavioural biometrics startup BioCatch raises $10m

17 June 2014  |  5811 views  |  0 Man pointing on world Icon

BioCatch, an Israeli startup that uses behavioural biometrics to authenticate visitors to banking and e-commerce sites, has raised $10 million in a funding round led by Blumberg Capital and equity crowdfunding firm OurCrowd.

BioCatch aims to eliminate passwords and authentication dongles for online banking and shopping, replacing them with a system that recognises users by how they physically use their computer or tablet.

The firm's technology collects and analyses over 400 bio-behavioural, cognitive and physiological parameters - based on how people type and move a cursor around - to create unique profiles for visitors to sites.

In addition, the system creates "invisible challenges" for visitors to sites. For example, when a user moves the cursor towards a button, they are deliberately knocked slightly off course and subconsciously have to correct in what the company says is a way unique to them.

This, argues BioCatch, is more secure than traditional authentication methods, demonstrating an 80% reduction in false positives for detecting the same amount of fraud. It also significantly reduces friction for the customer because the system automatically kicks in when they visit a site using the technology.

BioCatch says that it has signed up several unnamed banks and e-commerce sites, and that it will use the new funding to push on in North American and Europe as well as to expand R&D efforts.

Benny Rosenbaum, CEO, BioCatch, says: "This funding will allow us to continue strengthening our offering and expand our global reach in strategic markets, while keeping the world's largest and most influential institutions safe and secure."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

16 June, 2014
03 June, 2014
21 October, 2013
11 October, 2013
31 January, 2013
07 November, 2011
29 July, 2011

Related company news


Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
7992 views comments | 37 tweets | 15 linkedin
SunGard system glitch causes havoc for BNY...
7411 views comments | 14 tweets | 12 linkedin
Payments UK sets out vision for 'world cla...
6577 views comments | 17 tweets | 10 linkedin
Swedish mPOS firm iZettle raises EUR60m fo...
5986 views comments | 12 tweets | 8 linkedin
HSBC glitch leaves thousands of customers...
5967 views comments | 13 tweets | 7 linkedin

Featured job

to $120K base + bonus
New York City, NY (USA)

Find your next job