Israel-based behavioural biometrics technology developer BioCatch has completed a $30m financing round featuring online lending platform CreditEase and American Express Ventures, the corporate venturing arm of payment services firm American Express.
Early-stage investment firm Maverick Ventures led the round, which included venture capital firms Janvest Capital and NexStar Partners, venture debt provider Kreos Capital, crowdfunding equity platform OurCrowd and undisclosed existing investors.
Founded in 2011, BioCatch has developed a software platform that uses behavioural biometrics to analyse interactions between human users and devices across more than 2,000 parameters in order to detect online fraud and cyber threats.
The company raised $4m in 2011, according to TechCrunch, before closing a $10m series A round co-led by OurCrowd and VC firm Blumberg Capital three years later. CEO Howard Edelstein told SecurityWeek the latest round took its overall funding to $47m.
Harshul Sanghi, managing partner of American Express Ventures, said: “BioCatch’s robust behavioural analytics platform is helping companies identify and stop fraudulent activity without sacrificing the user experience for legitimate customers.
“The demand for organisations to strike that balance will only increase as digital engagement with their customers grows, and cyber threats become more sophisticated. We are excited to support BioCatch as it works to expand its capabilities and help organisations, including American Express, address this critical need.”