BioCatch
Al-driven Behavioral Biometrics for Cybersecurity
Company Overview
Snapshot
Founded in November 2010 by Uri Rivner and Avi Turgeman, BioCatch operates with 201–500 employees. The company has raised $214.62 million across 10 funding rounds from 18 investors. In May 2024, BioCatch was acquired by Permira.
Business overview
BioCatch develops AI-driven Behavioral Biometrics technology that analyzes online users' physical and cognitive digital behavior to protect individuals and their assets. Its core product delivers actionable insights to financial institutions globally, enabling them to combat fraud, drive digital transformation, and accelerate business growth. The company primarily serves the financial services sector, including banks, operating within the broader Cyber Security and Identity Security categories.
Strategic signal
In May 2024, BioCatch was acquired by Permira, a significant event that validates the company's market position and technological prowess in behavioral biometrics. This acquisition, reportedly valuing BioCatch at $1.3 billion, signals strong investor confidence in its fraud detection and prevention solutions, particularly given its reported 49% ARR growth in 2023 and surpassing the $100 million ARR milestone. For investors, this indicates a successful exit for previous backers and highlights the increasing strategic importance of advanced cybersecurity solutions in the financial sector.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant recent corporate development for BioCatch?
- In May 2024, BioCatch was acquired by Permira. This acquisition followed a period of substantial growth for BioCatch, which had achieved a valuation of $1.3 billion.
- Which investors participated in BioCatch's secondary funding round in February 2024?
- In February 2024, Macquarie Capital invested in BioCatch's shares through a secondary transaction.
- What was BioCatch's financial performance in 2023?
- BioCatch reported a 49% annual ARR growth for fiscal year 2023, surpassing the $100 million ARR milestone and achieving EBITDA profitability. The company also closed its largest sales quarter in history and welcomed 78 new customers.
- What product did BioCatch launch in August 2023?
- In August 2023, BioCatch launched its next-generation Connect product portfolio, a fully integrated fraud and Anti-Money Laundering (AML) solution that uses behavioral biometric intelligence to detect fraudulent activities and identify criminal actors.
- Who led BioCatch's secondary funding round in May 2023?
- In May 2023, Permira led a secondary funding round for BioCatch, acquiring a $40 million stake in the company. This investment was intended to provide financial backing for acquisitions and mergers and strengthen BioCatch's presence in Europe.