Arvato Financial Solutions invests $8m in SecuredTouch
Israeli behavioral biometrics start-up SecuredTouch gained backing from Arvato Financial Solutions, reports Julie Muhn at Finovate. The $8 million investment brings the company’s total funding to $11.5 million.
SecuredTouch says it will benefit from Aravato’s established relationships with international players across various industries. Yair Finzi, CEO and founder of SecuredTouch, comments: “We see a clear synergy between the offerings and strategies of Arvato Financial Solutions and SecuredTouch.
“We have created a partnership that will enable SecuredTouch to expand its international presence and enhance its positioning in the areas of fraud and authentication. Arvato Financial Solutions with its international expertise in risk and fraud management is an ideal investor and partner for this purpose.”
SecuredTouch was founded in 2015 and specialises in behavioral biometrics for mobile transactions. As Finzi explains, the company ensures 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 company maintains a foothold in the security space by leveraging more than 100 parameters to continuously authenticate users in a session without friction. SecuredTouch’s technology is able to differentiate between human and non-human behavior to catch and block would-be fraudsters.
SecuredTouch offers U-nique, a behavioral biometrics technology that leverages machine learning (ML); U-manobot, malware detection technology; and Continew-ID, a device takeover prevention technology.
SecuredTouch’s other investors include Rafael Development Corporation, Eshbol Ventures, and Wellborn Ventures.