BioCatch Nabs $30 Million for ‘Biometric Authentication’

TechNation: ContinUse Biometrics secures $20 million for health-monitoring tech ■ Rambam to collaborate with Stanford on next-generation medical technology ■ Eucalyptus fund partners confident despite being short of fundraising goal

BioCatch employees
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ContinUse Biometrics secures $20 million for health-monitoring tech

ContinUse Biometrics, whose technology enables people to detect a deterioration in their health early on, said on Tuesday it has secured $20 million in new funding from investors led by Singapore-based Chartered Group. The startup has developed a remote sensor that monitors more than 20 biomedical parameters remotely, including blood pressure, muscle activity and heart and lung sounds and even biochemical activity, with a physical contact. It analyzes the data for patients or physicians by using artificial intelligence. The company says it can even be used to monitor drivers and improve road safety. Funded three years ago by CEO Asher Polani and four others, ContinUse was born out of a decade-long collaborative effort between Israel’s Bar-Ilan University and Spain’s University of Valencia. The latest round brings funding to date for the Tel Aviv-based company to $27 million from investors that include Olive Tree Ventures, computer maker Lenovo group and Johnson Controls/Tyco. (TheMarker Staff)

BioCatch nabs $30 million for ‘biometric authentication’

BioCatch, a U.S./Israeli startup that has developed what it calls “behavioral biometric authentication and threat detection” technology to enable businesses to thwart online fraud before it happens, said on Monday it closed on a $30 million fundraising round. Maverick Ventures, an Israeli fund, led the investor group, joined by American Express, the crowd-funding platform Our Crowd and others. The company takes a novel approach to computer security. Instead of erecting barriers, like passwords, it focuses on users’ online behavior to identify and prevent a potential fraudster. That includes more than 2,000 cognitive parameters, such as the way a user wiggles his or her mouse when the cursor disappears. The latest round brings BioCatch’s fundraising to $47 million since it was founded in 2011 by Chief Technology Officer Avi Turgeman and Uri Rivner, the company’s head of cyberstrategy. It counts as customers Royal Bank of Scotland and American Express. (Eliran Rubin)

Rambam to collaborate with Stanford on next-generation medical technology

The Rambam Health Care Campus in Haifa and Stanford Medicine have reached an agreement to work together on the future of medicine. In an announcement on Friday at a symposium on Planning for the Next Generation, the two said they would collaborate in medical innovation, big data and machine learning, cutting-edge drug development, and trauma and emergency preparedness. “During the conference we discussed precise, personalized health issues and the issue of health in Israel, including the complex relations in Israel between its local diverse population and with its neighbors,” Prof. Rafi Beyar, the director of Rambam, said in a statement. Rambam is a regional hospital with 1,000 beds, 130,000 visits a year to the emergency room, and an annual budget of $400 million. Stanford is a 600-bed hospital with 60,000 visits to its emergency room annually and a budget of $7 billion a year. (JTA)

Eucalyptus fund partners confident despite being short of fundraising goal

Eucalyptus, the new venture capital fund formed by Eldad Tamir and Dedi Perlmutter, is still short of the 400 million shekels ($117 million) it needs for it to qualify for government backing, but the two told TheMarker in an interview they believed the fund is a good way for small investors to profit from Israeli high tech in a way that wasn’t possible before. Five funds that were formed under the government program face a June deadline to raise the minimum amount but have reportedly brought in no more than 300 million shekels to date. If they meet the minimum, the state will provide insurance covering up to 50 million shekels in losses and provide government guarantees on loans. Tamir blamed negative media coverage for the failure. “Among other things the media destroyed the product. No one sat with us and listened [to our case],” he said. “The banks didn’t help either by deeming us a risky [investment product].” (Assa Sasson and Eliran Rubin)