Israeli mobile security behavioural biometrics startup SecuredTouch has closed an $8m Series A round.
The round was led by German financing company Arvato Financial Solutions, marking its first-ever investment in Israel. RDC and Rafael Advanced Defense Systems also participated in the round, alongside other investors. The two companies will also collaborate with SecureTouch’s behavioral biometrics technology integrated into Arvato’s fraud identification platform.
Based in Tel Aviv, SecuredTouch provides digital fraud prevention, with a focus on mobile applications.
With FinTech companies are facing fierce competition and heavy security-compliance legislation, while consumers are demanding faster, user friendly access. SecuredTouch claims to facilitate the user experience via step-up authentication, seamless second-factor authentication, risk-based authentication, extended session expiration and password recovery.
Its solution simplifys and shortens the identity verification process enhances continuous monitoring, enabling customers to continue using the app without constant security intrusions, such as re-entering passwords and captchas. The company detects malware, non-human and fraudulent behaviour immediately upon activation, preventing automated attacks.
CEO Yair Finzi said: “Our solutions are designed and built to ensure that legitimate transactions are recognised quickly as such and can be conducted smoothly. The aim is to ensure a secure, fast and convenient customer experience in mobile transactions, on a sustained basis.”
“The investment will allow us to expand our business operations worldwide, enlarge our R&D team and deepen the capabilities of our digital platform in Europe and other markets worldwide.”
Other Tel Aviv-based companies to recently raise money in the security include Luminate Security, which emerged from stealth having raised $14m from seed and Series A funding rounds. The company claims to provide the first universal platform for access to corporate applications in hybrid clouds. Unlike traditional security solutions, Luminate enables IT operations to move at the speed of digital business requirements, integrating seamlessly with their existing IT tools.
Perception Point, a cybersecurity firm whose technology intercepts attacks, also recently closed a $8m Series A funding round. Founded in 2015 by Israeli cyber-intelligence experts, Perception Point has developed a platform blending the best of hardware and software capabilities to detect exploits before hackers are able to penetrate an organization.
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