Mobile security co SecuredTouch raises $3.5m

app mobile smartphone

The company's app identifies users by what they do with a mobile phone.

Israeli mobile security startup SecuredTouch today announced the completion of a $3.5 million financing round. The company develops behavior-based identification solutions. The RDC fund led the round with participation from the Eshbol Ventures, Wellborn Ventures, and Swarth Group funds. SecuredTouch has 15 employees.

The company uses the way we touch and use a mobile phone for identification purposes. SecuredTouch analyzes a series of parameters characterizing each customer. Among other things, it checks the thickness of the customer's finger, the amount of force used in pressing on the screen, the angle at which he holds the phone, and other features. When a hostile party attempts to use the phone to commit fraud, the company recognizes that he is not the device's owner and foils his impersonation. SecuredTouch's product has already been installed in LeumiCard's digital wallet, and is in the process of being installed at a number of large banks around the world.

CEO Yair Finzi and chief product officer Ran Shulkind founded SecuredTouch in 2014. The company joined the Upwest Labs accelerator in Silicon Valley. The company's employees in Israel will soon move to "The Floor" fintech hub at the Tel Aviv Stock Exchange (TASE).

Commenting on the financing round, Finzi says, "The business environment in which banking apps and ecommerce websites are now operating is dynamic and innovative, while the identification systems they rely on are outdated and static. Passwords are often stolen, and the day is not far off when they will become totally irrelevant."

Published by Globes [online], Israel Business News - www.globes-online.com - on February 7, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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