|Howard Edelstein (Chairman & CEO)|
BioCatch is an Israeli cybersecurity company that specializes in behavioral biometrics, a technology that can recognize whether or not online banking users are who they appear to be based on their online behavior, specifically their interactions with mobile and web applications. BioCatch monitors the online behavior of more than 150 million customers on behalf of its client banks and evaluates over 1 billion digital sessions per month for fraud and other types of cybercrime in real-time.
The following organizations have publicly identified themselves as BioCatch clients: American Express, Banco Itaú Unibanco, Banco Santander, Barclays, HSBC, National Australia Bank, National Westminster Bank, Principal Financial and Royal Bank of Scotland.
BioCatch was founded in 2011 by Avi Turgeman and Benny Rosenbaum. Turgeman served in the Israel Defense Force’s (IDF) 8200 unit, which gathers signal intelligence, and subsequently developed the technology behind behavioral biometrics. Longtime fintech entrepreneur and BioCatch Chairman Howard Edelstein was named CEO in 2018 ahead of a $30 million Series B funding round.
Bain Capital led a Series C fund raising of US$145 million in April 2020. The round was extended twice later that year, and in September Barclays, Citi, HSBC and National Australia Bank (NAB) invested an additional $20 million in the company, bringing the total for the round to $168 million.
Tracxn, a research company backed by Accel Partners and Sequoia Capital, among others, named BioCatch to its “Soonicorn Club of Israeli Tech” in January 2021,” citing the $216 million in funding raised by the company to date.
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