Conor Venture Partners, Partnerinvest Norr and Innovationsbron will invest 1 million euro into BehavioSec, a Sweden based security startup to accelerate its growth and internationalisation. BehavioSec is a spin off from Luleå University of Technology and the company was founded in 2007. Previously, the company had been funded by Lunova, PNF Venture Capital as well as Norrlandsfonden and they all participated in the new investment round as well.
BehavioSec has created a technology to monitor user behavior and from this creates an identity key to authenticate and verify users online. There are two solutions they offer. The first one is a lighter one with a clientless, browser-based, keystroke only solution for web. The second offering is a desktop software based, similar to a virus scanner that “monitors both keystroke and mouse behaviour detecting anomalis in real time”.
“This funding round will enable us to accelerate our penetration to the market and to help our customers address the skyrocketing challenges they have with online fraud and identity theft.”, states Olov Renberg, CEO of BehavioSec. “Conor is an excellent fit as our new lead investor due to their expertise in security and internationalization of companies.”
BehavioSec has recently raised 400 000, according to Crunchbase.