BehavioSec, a Luleå (Sweeden) based startup in the online security space, today announced that Conor Venture Partners, Partnerinvest Norr and Innovationsbron will invest 1 million Euro to accelerate BehavioSec’s expansion into international markets. All previous investors participated in this new investment round.
BehavioSec was founded in 2007 and offers Behaviometric solutions for risk based Authentication & Verification of end users. This means that BehavioSec creates a unique digital fingerprint of each end-user’s behavior. These fingerprints are utilized in continuous identification and verification of the users’ identities while the users are accessing sensitive online services such as online stores. BehavioSec adds a new invisible layer of security that prevents fraud and identity theft in realtime. The solutions of the Swedish company are designed to tackle the security demands of both IT organizations and e-commerce.
Olov Renberg, the CEO of BehavioSec, stated in today’s press release: “This funding round will enable us to accelerate our penetration to the market and to help our customers address the skyrocketing challenges they have with online fraud and identity theft.” In relation to Conor Venture Partners, the lead investor of this round, Renberg said: “Due to their expertise in security and internationalization of companies Conor is an excellent fit”.
For more info check out BehavioSec’s futuristic commercial: