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BehavioSec Lands $6 Million Led by Northzone and Octopus Investments


In the past few years, we’ve witnessed the evolution of security beyond usernames and passwords. Founded in 2009, BehavioSec is one of the forerunners of this trend; making security invisible to the end user.

Today, the Swedish company announced $6.2 million (€5 million) round led by Northzone and Octopus Investments. Existing investors, Conor Venture Partners and Partner Invest Norr, also contributed.

A 2011 installment of $500k and a 2008 round of $1.2 million bring BehavioSec’s total funding to almost $8 million.

BehavioSec plans to use the funds to:

    • Accelerate international growth
    • Expand presence in the U.K. and U.S.
    • Support existing clients
    • Invest further in existing products

The uptick in recent security hacks has brought about increased approval for the use of biometrics. From Apple’s TouchID to Nymi’s Nymi Band, companies and customers are growing accustomed to using physical assets for authentication. BehavioSec takes a slightly different approach. Instead of authenticating using a person’s physical attributes, it verifies an identity by passively observing how they interact with their device.

This week, BehavioSec welcomes three new board members: Simon Andrews of Octopus, Bjorn Stray of Northzone and Chris Barchak of Conor Venture Partners.

BehavioSec has won awards most recently at FinovateEurope 2014 and FinDEVr. It has won Best of Show at FinovateAsia 2013 and FinovateSpring 2012.