Israel-based mobile security firm SecuredTouch announced yesterday that it has completed financing round of $3.5 million early this month. Means the company has succeeded in raising capital from venture capitalists to fund all its company operations.
Eshbol Ventured, Wellborn Ventures, and Swarth Group Funds were the companies which participated in the RDC fund.
Coming to the product portfolio offered by SecuredTouch, the company first analyzes a series of parameters characterizing each customer and then develops products with mobile security in the feature.
SecuredTouch product portfolio develops products based on features such as the thickness of the customer’s finger, the amount of pressure used by the user on the device screen and the angle at which he/she holds the phone while operating it. All these details are analyzed and secured in the application.
When a hostile party- say a mobile thief, tries to use the phone to commit fraud, then the said company’s app recognizes the device’s owner and foils the attempt to impersonate them.
SecuredTouch main motto is to use data science to reduce data fraud. Its product portfolio includes apps which identify mobile traffic, detect account takeover frauds and helps in fighting automated attacks. The company’s products are already installed in LeumiCard’s and Coinbase digital wallets.
The company’s main objective is to focus on banking apps and e-commerce websites and serve them with dynamic and innovative applications which eradicate mobile frauds. As the usage of the password is getting extinct, SecuredTouch wants to bring in a new revolution with its ‘touch signature’ based mobile security.
SecuredTouch was started by Yair Finzi and Ran Shulkind in 2014 in Israel. The company has a branch office located in Palo Alto, California.