Israeli behavioral biometrics company BioCatch has completed a $145 million Series C investment led by Bain Capital Tech Opportunities, with participation from existing investors American Express and CreditEase among others.
BioCatch’s technology, which monitors user behavior throughout each online session, counts more than 40 of the world’s largest global financial institutions as customers.
The company grew annual recurring revenues by 150% in 2019 and says the new funding round will be used to broaden its product offerings and to move into new industry verticals. Biocatch signed its first e-commerce client in 2019 and is planning to launch in the public sector in 2020.
Howard Edelstein, BioCatch Chairman & CEO, comments: “The current environment has spawned a large increase in bad actors seeking to take advantage of distracted individuals working from home or dispersed companies whose technologists are scattered in remote locations. In such times, technologies like behavioral biometrics become more important than ever."