- Website: http://www.biocatch.com
- Company size (employees): 10 to 49
- Country: United States
- Headquarters Region: Asia
In 3 bullets, summarize why this company is different from the competition and deserves recognition:
• Technology: BioCatch’s proprietary technology use more than 500 parameters to monitor and analyze human behavior that are not available in traditional biometrics. Although there are many solutions for reducing fraud other than behavioral biometrics, some create friction, which overall disrupts the user’s experience, often driving users away. BioCatch’s platform uses seamless techniques, including a human and non-human holistic approach, that monitor and catch fraudulent activity without jeopardizing the user experience. BioCatch has 5-10 proof of concepts now in the US, which gives them enterprise level scale from deployment perspective, but also data processing.
• Intellectual Property: BioCatch has also filed and won a number of patents relating to malware and robotic detection and identification of remote access Trojans (RATs). This class of patents is designed to prevent next-generation malicious automatic attacks from occurring by using invisible challenges to create subconscious responses by users, thereby allowing BioCatch to generate and analyze those behavioral responses. The monitored interactions are used to detect attackers who utilize remote access channels, malicious automatic scripts, and malicious code injections, among others. BioCatch can detect malware immediately after being deployed, and its behavioral biometric technology can alert on the new TrickBot Trojan hitting banks worldwide, for example.
• Leadership: Founded in 2011 by experts in neural science research, machine learning and cybersecurity, BioCatch set out to address the next generation cyber threats by focusing on the behavior of the fraudster as opposed to adding new fortification layers. Led by CEO Eyal Goldwerger, a seasoned operator and passionate entrepreneur with diverse experience leading technology ventures. Founded by Avi Turgeman, who leads the development of the technology, has over six years of experience in the military intelligence as a researcher, inventor and R&D team leader. Co-founder Uri Rivner is recognized globally as an industry expert on Cybercrime and advanced threats.
In less than 300 words, summarize the achievements of the company in the nominated category
BioCatch is a global cybersecurity company that uses proprietary behavioral biometrics technologies to analyze human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and protect against a variety of cyber threats, without compromising the user experience. To date, BioCatch has received three rounds of funding totaling $17.6 million.
In just a couple of years of operation, BioCatch has been able to collaborate with major banks and ecommerce sites worldwide. BioCatch works with all the major banks in the UK, the largest ones in other markets including Spain, Italy and Brazil. The company currently monitors over 4 billion transactions per month, and has established key partnerships, including with Nuance Communications Inc, a leading provider of voice and language solutions; Experian, the leading global information services company; and LexisNexis Risk Solutions, a part of RELX Group, a global provider of information and analytics for professional and business customers across industries.
BioCatch also has one of the most robust intellectual property portfolios in the industry, which is made up of 25 pending patents and 25 granted patents. Included in these granted patents is the July, “Device, Method, and System of Detecting Remote Access Users and Differentiating Among Users” patent, which detects remote access fraud (RATS), one of the most persistent cyber threats today.
BioCatch also has an extensive amount of well-deserved awards and recognitions. To date, they have won 12 awards. This year alone, BioCatch has won seven awards from numerous publications including Red Herring, FStech, Frost & Sullivan, and Inc.