BehavioSec

BehavioSec, founded in 2008 by Olov Renberg, is a company operating in the cybersecurity sector, specifically focusing on behavioral biometrics. The firm originated from a university project at Luleå University of Technology in Sweden, where the founders were researching new methods for user authentication. This academic foundation transitioned into a commercial enterprise aimed at providing more sophisticated security solutions beyond traditional passwords and physical tokens.

The company's core business revolves around its Behavioral Biometrics Platform, which verifies users' identities by analyzing their inherent physical behaviors and cognitive processes. This is achieved by continuously monitoring a user's digital interactions, such as keystroke dynamics, mouse movements, and touchscreen gestures, to create a unique behavioral profile. The platform's machine learning algorithms can then detect anomalies that may indicate fraudulent activity, such as an unauthorized user attempting to access an account. This method of continuous authentication provides a layer of security that operates passively in the background without disrupting the user experience.

BehavioSec targets a diverse client base, including financial institutions, e-commerce platforms, and other organizations that require robust security for their online services. Its business model is based on providing this technology as a software solution that can be integrated into clients' existing applications and security frameworks. The primary benefit for these clients is a reduction in fraud and unauthorized access, coupled with an improved user experience by minimizing reliance on intrusive authentication methods. The company has secured significant funding over the years to support its growth and technological development, including a $17.5 million Series B round in 2018 led by Trident Capital Cybersecurity, with participation from Cisco Investments, ABN AMRO, and existing investors. In 2023, the company was acquired by LexisNexis Risk Solutions, a part of RELX group, which is expected to integrate BehavioSec's technology into its broader suite of fraud and identity management products.

Keywords: behavioral biometrics, cybersecurity, identity verification, continuous authentication, fraud prevention, digital identity, user authentication, machine learning, financial security, access management