Neuro-ID secures $35M for real-time behavior analysis expansion in Series B
Behavioral analytics specialist Neuro-ID has secured $35 million in Series B to acquire talent expand globally for its services for large-scale real-time behavior interpretation – down to individual taps, clicks and swipes – to deliver insight into customer intent and points of friction.
Series B was led by Canapi Ventures with Fin VC and TTV Capital, which led Series A. Alongside that December 2020 $7 million Series A, the firm has brought in $49.5 million in investment since its founding in 2014.
Neuro-ID said in the announcement that the past year has seen three to four times growth in clients and revenue and a 500 percent increase in the number of customer journeys monitored by their systems. The company has tripled its own employee base in that period and hopes to take on more staff with the funding.
It also hopes to accelerate product development to achieve further product-led growth.
Customers using the systems have recorded 200 percent conversion increases and reduced fraud by 35 percent, according to the company. Neuro-ID sets itself apart from its competitors by distinguishing between first-time visitors and those returning, offering differing insight to improve successful sign up through KYC for a customer’s services.