Behavioral biometrics solutions provider and Techstars-backed company TypingDNA has raised $1.5 million in seed funding.
Coming from European venture firm GapMinder Venture Partners and international investors from the United States, United Kingdom, and European Union, the funding will be used to expand presence in the financial and enterprise sectors, the company says.
The financing round also saw participation from previous investor Gecad Ventures, Techstars NYC alumni and mentors fund, angel investors with expertise in banking, financial services, enterprise, AI and cybersecurity, as well as founders of hypergrowth startups DataDog, WayUp and UiPath.
Established in 2016 in Romania by entrepreneur and data scientist Raul Popa, the software-as-a-service (SaaS) company has clients in the U.S. and Europe.
TypingDNA works directly with banks and other financial service providers to improve online fraud detection. Last year, the company also began collaborating with identity access management (IAM) providers and security companies.
Called typing biometrics, the company’s technology is meant to recognize people based on the manner in which they type, both on desktop keyboards or mobile devices, and to provide passive authentication and frictionless two-factor authentication.
“We are now setting new standards in the industry. Our goal is to be the number-one provider of typing biometrics technology. We are focused on striking more partnerships with major players in identity, authentication, two-factor authentication (2FA) and fraud prevention,” Popa said.