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.

The company has achieved a tremendous growth, over the last year and is expanded in various banks, eCommerce sites and companies across globe. Dominating figures in the authentication and security zone including former senior personnel of Vasco and RSA, Trusteer have associated BioCatch and share its vision. BioCatch has team strength of 20 members at present.

BioCatch is easily interspersed into existing security framework and runs flawlessly with other fraud detection systems. The technology has exhibited an 80% cutback in false positives for detecting the same amount of fraud, as well as identified cybercrime activities that other solutions failed to detect such as Malware and Remote Access Attacks (RATs).

It’s really an excited feeling to be partnering with BioCatch and to be part of such a futuristic approach, which helps secure clients and companies from hidden cyber threats. With the worldwide channel of investors, OurCrowd can generate ease assistance to BioCatch with an explicit line to large possible clients, key industry links and critical partners worldwide, says, Elan Zivotofsky, General Partner at OurCrowd. 

As part of the new corporation, Ron Moritz of OurCrowd and Alon Lifshitz of Blumberg Capital will be accompanying BioCatch's Board of Directors.