Behavioral biometrics vendor BehavioSec collects $17.5 million in a Series B fundraising round

30 January 2018

BehavioSecBehavioSec, a Stockholm-based developer of authentication solutions based on behavioral biometrics, reported it has raised $17.5 million in a Series B investment round led by Trident Capital Cybersecurity and joined by Cisco Investments and ABN AMRO apart from its existing investors such as Octopus Ventures and Conor Venture Partners.

The funds from the investment round are scheduled to use for expansion of the company’s global presence and moving its headquarters to the United States. BehavioSec provides behavioral analytics for combating online fraud and identity theft while at the same time maintaining high level of consumer experience.

Alberto Yépez, speaking for Trident Cybersecurity, notes that the two-factor authentication methods are no longer sufficient for ensuring security of accounts against ever growing sophistication of cyber threats, and, hence, in a move to enhance protection of transactions and eliminate fake user sessions, fintech leaders are shifting to a layered authentication approach.

BehavioSec allows users to record their digital fingerprints and combine this protection measure with keystroke cadence to improve the verification of users and achieve more accurate picture of their identity across various platforms, including mobile devices and desktops.

Hugo Bongers, speaking for ABN AMRO, adds that the cutting-edge technology solutions of BehavioSec are expected to provide next-level security for their customers.

The new solutions from BehavioSec are planned to be launched in a short term within a year, and the technologies will include enterprise authentication products, integrated decision intelligence with the integration of partner solutions from Gemalto, Vasco, Crossmatch, Nuance and other vendors.

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