Biometric Solutions Provider for Banks BioCatch Raises $30 Million

Israeli startup BioCatch, provider of biometric authentication solutions to banks, has raised $30 million in funding today.

The round is led by VC firm Maverick Ventures and includes investors like American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital as well as existing investors.

The funds will be used for growth initiatives, although no specific plans were mentioned in Today’s announcement.

Howard Edelstein, BioCatch Chief Executive Officer, said:

As the company pursues its growth trajectory, we are pleased to welcome our new investors into the fold. This latest investment round is a testament to the commitment and the capacity that we have to change the way identity is managed online. Relationships with companies like Experian, LexisNexis Risk Solutions, Samsung SDS and others demonstrate how BioCatch is contributing to digital transformation, and this round of funding will enable us to take our efforts to a whole new level.

Founded in 2011, BioCatch can be integrated into a bank’s mobile app or website or app to collect and analyze more than 2,000 cognitive patterns to detect fraud.

Read more on TechCrunch and Finextra.

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