AimBrain gets £4m in Series A led by BGF Ventures

AimBrain, a biometric identity as a service platform, has closed a £4m Series A led by BGF Ventures.

The London-based firm seeks to make it easier toidentify customers of financial institutions by leveraging a deep-learning enabled service that provides biometric authentication.

AimBrain’s behavioural biometrics track how a person uses a device, looking at variables such as typing speed, touch pressure and even how much their hand shakes as they hold it.

“We have built the leading provider of biometric identity as a service,” said Andrius Sutas, co-founder of AimBrain. “We know that financial institutions have a big problem with fraud prevention – and customers are not getting the best experience. That’s why we built a platform that uses behavioural, facial and voice data to identify customers accurately, quickly and securely.”

Founded in 2015 by Sutas and Alesis Novik, AimBrain says itstechnology can plug-in to any existing platform.

“No single biometric is good enough in itself,” Sutas added. “To mitigate as much risk as possible, you need a platform approach. In both testing and live production, our technology has consistently outperformed the market, even on a single module.”

Other investors in the round included Episode1, Entrepreneur First and angels, including Simon Rozas, Chris Mairs and Charles Songhurst.

Henry Gladwyn, of BGF Ventures, commented: “We are very excited to be working with AimBrain. Their technology is exceptional and is poised to revolutionise the authentication process for financial services companies. This is an area of great opportunity and we look forward to watching AimBrain grow and succeed.”

By UKBAA 30 Jun 2017