SAN FRANCISCO--(BUSINESS WIRE)--BehavioSec, the first vendor to pioneer behavioral biometrics, today announced the company’s inclusion on the Fintech 250, a prestigious list of emerging private companies working on groundbreaking technology transforming the financial services industry. Published by CB Insights, the list is comprised of companies in sectors across payments, banking and other fintech markets. BehavioSec is included for its innovations delivering continuous authentication technology powered by behavioral biometrics, helping reduce fraud, improve customer peace of mind and improve the fintech user experience.
The BehavioSec Behavioral Biometrics Platform continuously authenticates individuals based on their unique keystrokes, device handling characteristics and other innate behaviors. The technology makes logins more secure and improves upon traditional, less secure authentication methods, like passwords that prove costly to reset and are prone to compromise from user error and theft.
“This achievement demonstrates our proven success and innovation in the financial services industry safeguarding millions of users and billions of transactions,” said Neil Costigan, BehavioSec’s Chief Executive Officer. “We are proud to be recognized by CB Insights not only as a pioneer of behavioral biometrics, but also for our ability to provide customers with completely frictionless security.”
The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by each company and their Mosaic Score. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically-driven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability.
“After we named the inaugural Fintech 250 in 2017, they went on to raise $23B including 30 rounds of over $100 million. 22 of the Fintech 250 have already exited with half via IPO. This year, we've added 113 new companies to the Fintech 250 using the CB Insights Mosaic algorithm, and the group is broad, covering everything from insurance tech to consumer banking to capital markets tech. We look forward to the success of this year's group,” said CB Insights’ CEO Anand Sanwal.
In January of this year, BehavioSec announced a $17.5M Series B round of funding. The company expects continued rapid growth as a result of their recent accomplishments, including being recently named to the prestigious “GSMA 100” for its contributions to the secure delivery of mobile content and services. It is also a past winner of the coveted SINET 16 security start-up competition. BehavioSec recently joined a SANS Institute webcast defining behavioral biometrics and detailing the results of a hands-on product review of BehavioSec’s platform. Marquee investors including Cisco Investments and global finance titan ABN AMRO have invested in BehavioSec to accelerate deployment of the company’s technology. BehavioSec’s key partners include Cisco, Crossmatch, Gemalto, NEVIS, Nuance and OneSpan.
BehavioSec is the first vendor to pioneer behavioral biometrics and deliver continuous authentication. The company’s Behavioral Biometrics Platform is widely deployed across Global 2000 companies for its proven ability to dramatically reduce account fraud and data theft. Founded in 2008 out of groundbreaking academic research, BehavioSec technology allows companies, to continuously verify digital identities with superior precision, in real-time. Strengthened with the leadership of serial entrepreneurs and experienced industry professionals, the BehavioSec team now spans the world, providing security while preserving a rich digital experience throughout web and mobile apps.
BehavioSec is the only enterprise-grade vendor used in global deployments with some of the largest companies, reducing manual review whilst safeguarding millions of users and billions of transactions. BehavioSec investors include Forgepoint Capital, Cisco, ABN AMRO, Conor Ventures and Octopus Ventures. BehavioSec is headquartered in San Francisco, CA and has global operations throughout Europe and Asia Pac.
For more information, visit www.behaviosec.com.