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New BehavioSec CRO sees strong position in biometrics market after revenue triples in 2020

 

behavioral biometrics online authentication

Revenues from BehavioSec’s behavioral biometrics for continuous use authentication increased by 300 percent on a year-over-year basis in 2020, the company has announced, and it has also brought in a new executive to drive further growth.

Over the course of 2020, BehavioSec expanded its customer base of finserv, fintech, technology and other enterprises, and strengthened its partner ecosystem with deals with Deutsche Telekom, ForgeRock and Capgemini.

The company also believes it is well positioned to support digital transformation towards secure and user-friendly online experiences forced by the pandemic.

New CRO appointed

Former Mitek VP Michael Nelson has been appointed as the company’s new chief revenue officer to help further accelerate its growth and deliver its technology to more enterprises.

Nelson will be responsible for aligning and overseeing BehavioSec’s go-to-market activities, including sales, partner programs, and customer success. As VP of Sales and Business Development for Mitek Systems, he founded the company’s identity business, and achieved 50 percent revenue growth among financial services, e-commerce and sharing economy customers, according to the announcement.

In a blog post, Nelson writes that 2021 presents an unprecedented opportunity for digital identity. As industry talk about security against fraud and smooth user experiences turns to signals, Nelson says the ability of behavioral biometrics to provide high visibility and assurance against stolen or compromised credentials.

Behavioral biometrics from BehavioSec have the advantages of supporting ‘Zero Trust Identity’ with continuous authentication, a customer operations and partner-friendly approach, and product and business relationship maturity, Nelson argues.

“BehavioSec has aggressive goals and is building on a position of strength fueled by doubling the team, tripling revenue and recently adding a top 5 US bank, a leading global online software marketplace, and a major telecom enterprise in Europe to its customer portfolio,” he says in the announcement. “We offer a strong platform that is beneficial to every consumer and organization, tracing a great path towards their user expansion, and digitally transforming and securing their businesses.”

BehavioSec also appointed a new Chairman and a new CFO in December.

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