TypingDNA raises new investment for its behavioral biometrics technology
TypingDNA today announced it has raised $1.5M in seed round funding from European venture firm GapMinder Venture Partners, as well as several international investors from U.S., U.K., and the European Union.
TypingDNA was launched in 2016 in Romania by entrepreneur and data scientist Raul Popa and has clients in the U.S. and Europe. The company’s technology recognizes people by the way they type on desktop keyboards and mobile devices and improves security through passive authentication and frictionless 2FA.
The company plans to use the funds to improve its behavioral biometrics technology and expand its presence in the financial and enterprise sectors as well as build new partnerships and increase awareness of its passive online fraud prevention capabilities.
“We are now setting new standards in the industry,” says Raul Popa, CEO of TypingDNA. “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 and fraud prevention.”
“We are constantly looking in the areas which can make a strong statement in what we call change, and AI is one of the main areas where we put our eyes and money. TypingDNA biometrics technology is using proprietary pattern recognition, anomaly detection and one shot learning algorithms, adding a lot of value to the bottom line. We feel TypingDNA is at the forefront of the ‘AI-first’ wave,” added Cosmin Ochisor, Partner at GapMinder, a Seed and Series A fund focused on investing in innovative AI technologies developed in Eastern Europe.
The financing round also includes previous investor Gecad Ventures, Techstars NYC alumni and mentors fund, angel investors with network and domain expertise in banking, financial services, enterprise, AI and cybersecurity, as well as the founders of startups DataDog, WayUp and UiPath.
In other company news, TypingDNA is looking to hire in New York City and currently has two positions available in the Big Apple, Director of Sales and Developer Evangelist. The company also has a number of other openings at its offices in Bucharest and Oradea in Romania.