Sweden-based biometric authentication technology developer BehavioSec, a spinout from Luleå University of Technology, has attracted $17.5m in a series B round led by venture capital fund Trident Capital Cybersecurity.
The round included Cisco Investments and ABN Amro Digital Impact Fund, subsdiaries of networking technology provider Cisco and banking group ABN Amro respectively, as well as Octopus Ventures and Conor Venture Partners.
BehavioSec has created authentication technology for mobile devices, traditional computers and web browsers that identifies a user by their behaviour on keyboards, analysing factors such as the amount of pressure applied or their keystroke rhythm.
The series B capital will help the company expand internationally and move its headquarters to the US. The company expects to release additional products targeted at enterprise clients in the early part of this year.
Ken Gonzalez and Alberto Yepez, both managing directors at Trident Capital Cybersecurity, will join BehavioSec’s board of directors in connection with the investment.
BehavioSec raised $6.2m in a 2014 round co-led by Octopus Investments and Northzone that included Conor Venture Partners and Partner Invest Norr.
The latter two had joined Innovationsbron and existing backers Lunova, PNF Venture Capital and Norrlandsfonden to invest approximately $1.5m in the company in 2011.
