Neuro-ID, a United States based platform for the next generation behavioral analytics with actionable insights for reducing frauds, announced securing US$ 7 million Series A funding on 10th December 2020. The round was led by TTV Capital and Fin VC with the participation from Canapi Ventures.
The company plans to use this additional investment for accelerating their product development and increasing their hold over the market. This funding will help the company to ensure that digital organizations of all sizes can effectively translate their behavioral data into usable and actionable insights and improve their customer conversion rates.
The CEO of Neuro-ID, Jack Alton said, “Every company that attempts to onboard a new customer partner or business digitally already has a valuable store of behavioral data. But collecting and interpreting the way someone taps, swipes or types in real time is quite difficult even for the most sophisticated digital companies. This new power full view into the behavioral data of our clients has helped them to systematically reduce the unnecessary friction for genuine customers and has added a valuable layer of defense to stop the first and third party frauds. The implications for overall digital customer experience and improved conversion rates are game changing.”
The (Baas) Behavior-as-a-Service space, Neuro-ID was founded in 2014 by Jeff Jenkins and Joe Valacich. Headquartered in Whitefish, Montana US, it is a next-generation analytics platform which set a new standard for capturing, actioning, and translating the real time behavior of any digital interaction. With their patented technology named as Human Analytics it has leveraged a decade of scientific research in the Human Computer Interaction or HCI for measuring customer intent and experience. This data is useful for the organizations in the digital on boarding process for detecting any fraudulent consumers, and enables them in maximizing conversion; stop any fraud and decrease false positives.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!