BioCatch specializes in behavioral biometrics intelligence, leveraging advanced cognitive science, AI, and ML to analyze user interactions and deliver insights about identity, trust, and legitimacy of online activities. The company's flagship product, BioCatch Connect, is a fully integrated fraud and anti-money laundering (AML) portfolio that proactively detects and interdicts fraudulent activities and criminal actors targeting customers of the world's largest brands.
BioCatch's technology continuously collects data from five distinct sources – applications, user behaviors, devices, networks, and transactions – during each online session. Its Continuous Behavioral Sequencing (CBS) technology parses, matches, analyzes, coalesces, and scores this data to generate dynamic user risk scores. This predictive intelligence enables fraud, AML, and cybersecurity teams to monitor, investigate, and interdict potential fraudulent user activities and sessions in real time.
UK-based private equity firm Permira acquired a majority stake in BioCatch through a secondary market transaction in May 2024 at a valuation of USD 1.3 billion.
Key customers and partnerships
As of May 2024, BioCatch catered to 190 financial institutions as customers globally, including over 30 of the world's largest 100 global banks. Notable customers include National Australia Bank (NAB), Barclays, NatWest, and other major banks in the UK and Australia.
In March 2024, BioCatch announced a partnership with Google Cloud to extend its fraud-prevention solutions into new and rapidly expanding markets, with an initial focus on Southeast Asia. This collaboration aims to provide real-time protection and enhance the accuracy and speed of fraud detection for financial institutions in the region.
Funding and financials
As of June 2023, BioCatch processed over 7 billion user sessions per month. The company reported 49% annual recurring revenue (ARR) growth in 2023, surpassing USD 100 million in ARR.
In November 2023, the company raised USD 70 million from Sapphire Ventures at a valuation of over USD 1 billion.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.