Israel-based behavioural biometrics technology provider BioCatch grew its series C round to $168m yesterday following a $20m extension backed by financial services firms Barclays, Citi, HSBC and National Australia Bank (NAB).
BioCatch received an initial $145m tranche in April 2020 when online lending platform CreditEase and American Express Ventures, the investment arm of payment services firm American Express, both invested.
Bain Capital Tech Opportunities, a growth equity arm for private equity firm Bain Capital, led the first close, while Industry Ventures, Maverick Ventures and OurCrowd also took part. BioCatch did not explain when or from whom it received the remaining $3m.
Founded in 2011, BioCatch has created behavioural biometrics technology to prevent digital fraud.
In conjunction with the expanded round, BioCatch has launched its BioCatch Client Innovation Board, an invitation-only group that will enable members to exchange ideas on how to best use the company’s behavioural analytics technology and combat online fraud.
Barclays, Citi, HSBC, NAB and American Express Ventures have each been allocated two seats on the innovation board.
BioCatch has now secured $215m in total funding. Maverick Ventures led a $30m series B round in early 2018, investing with American Express Ventures, CreditEase, OurCrowd, Janvest Capital Partners, NexStar Partners, Kreos Capital and unnamed existing shareholders.
OurCrowd and Blumberg Capital are both among BioCatch’s early backers.
