Neuro-ID, a Whitefish, Montana-based startup provider of real-time behavioral analytics solutions that combat online fraud, increase conversion rates, and improve customer experiences, raised $35 million in Series B funding.
The round was led by Canapi Ventures, with participation from existing investors Fin VC and TTV Capital.
Neuro-ID will use the additional capital to accelerate its mission of unlocking conversion and optimizing fraud screening for digital organizations of all sizes.
Company: Neuro-ID, Inc.
Raised: $35.0M
Round: Series B
Funding Month: November 2021
Lead Investors: Canapi Ventures
Additional Investors: Fin VC and TTV Capital
Company Website: https://www.neuro-id.com/
Software Category: behavioral analytics solutions
About the Company: Neuro-ID is pioneering the behavioral analytics space, providing a new standard for collecting, translating, and actioning on the real-time behaviors of digital interactions. Through a body of patented technology, Neuro-ID developed the Friction Index™, leveraging over a decade of scientific research and discovery in Human-Computer Interaction (HCI) to measure both customer Intent and Experience. For companies, this real-time behavioral data is used during the digital onboarding process to segment genuine from fraudulent customers, enabling them to maximize conversion, reduce false positives and stop sophisticated fraud. Neuro-ID is committed to shaping Digital Transformation in positive ways by helping recapture critical human elements lost when the business moved online.
Source: https://www.businesswire.com/news/home/20211104005681/en/Neuro-ID-Secures-35M-in-Series-B-Funding-Led-by-Canapi-Ventures-to-Further-Capitalize-on-Expanding-Behavioral-Analytics-Market-Opportunity