HomeFundingSwedish online security startup BehavioSec raises €1 million for international expansion

Swedish online security startup BehavioSec raises €1 million for international expansion

BehavioSec, a Luleå-based startup in the online security space, today announced that Conor Venture Partners, Partnerinvest Norr and Innovationsbron will invest €1 million 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 and Verification of end users. This means that BehavioSec creates a unique digital fingerprint of each end-user’s behavior. These fingerprints are utilized for the continuous identification and verification of the users’ identities while they are accessing sensitive online services such as online stores. In this way, BehavioSec adds a new invisible layer of security that prevents fraud and identity theft in real time. 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 information, check out BehavioSec’s futuristic commercial:

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).
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