News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Behavioral Biometrics Firm Nets $17.5 Million in New Funding

Behavioral Biometrics Firm Nets $17.5 Million in New Funding

BehavioSec, a Silicon Valley company that sells online authentication technology, has raised $17.5 million in new funding. The company’s solution leverages behavioral biometrics—how users interact physically with their devices on keyboards or touch screens—to validate the identity of online customers. The Series B round was led by Trident Capital Cybersecurity with participation from Cisco Investments, ABN AMRO and others. The company said authenticating online users through behavioral biometrics can prevent e-commerce fraud and, more specifically, account takeover.

“Leaders in the industry are moving toward a layered authentication approach to continuously and seamlessly monitor and secure trusted transactions and eliminate fake or malicious user sessions,” said Alberto Yépez of Trident Cybersecurity, who will join BehavioSec’s board of directors. “We decided to invest in BehavioSec given production deployments authenticating user sessions for some of the most sophisticated financial institutions and governments around the world.  In addition, the company continues to lead the innovation in behavioral biometrics through close partnership with leading cybersecurity vendors and government agencies, including DARPA.”

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