BioCatch, the global leader in behavioral biometrics, announced it has completed a $145 million Series C investment led by Bain Capital Tech Opportunities, the growth investing business of Bain Capital.
Also joining the round are new investors including Industry Ventures as well as existing shareholders American Express Ventures, CreditEase, Maverick Ventures and OurCrowd, among others. The investment will accelerate BioCatch’s rapid growth, broaden its product offerings and further support its expanding client base into new verticals.
BioCatch’s category-defining behavioral biometrics technology seeks to protect some of the world’s largest financial institutions, their clients and their clients’ assets from fraud and other types of criminal activity, including sophisticated social engineering voice scams.
Unlike traditional security methods such as usernames and passwords, which are easily compromised, behavioral biometrics monitors user behavior throughout each online session, providing continuous protection and ensuring a secure and seamless online experience.
The company grew annual recurring revenues by 150% in 2019 and now counts more than 40 of the world’s largest global financial institutions as customers.
“BioCatch’s growth in annual recurring revenue and client base speaks directly to the growing demand for our service and the increasing number of use cases we are able to support,” said Howard Edelstein, BioCatch Chairman & CEO.
“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.
“We are also excited to partner with a leading technology investor like Bain Capital, as well as grateful for the continued confidence of our existing investors, who know the company bet ..
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