BehavioSec Triples Revenue in 2020; Welcomes New CRO
On the heels of a 300% growth year, former Mitek Systems exec Michael Nelson joins company to capture momentum and fuel growth in the biometric authentication market
SAN FRANCISCO, CA USA –February 23, 2021 — BehavioSec, the industry pioneer and technology leader for behavioral biometrics and continuous authentication, today announced the appointment of Michael Nelson as Chief Revenue Officer (CRO). This latest senior leadership addition will empower BehavioSec in further accelerating company growth and enabling more enterprises to safeguard their users while enhancing customer experience, compliance and identity protection.
In addition, BehavioSec experienced a 300% year-over-year (YoY) increase in growth in 2020, expanding its customer base across leading finserv, fintech, technology and other large enterprises, along with strengthening its partnerships with strategic carrier, systems integrator and identity partners like Deutsche Telekom, ForgeRock, Capgemini and others. As ongoing pandemic conditions place greater urgency on digital transformation and identity for mobile commerce, healthcare and safety, the BehavioSec platform is well positioned to serve a more active and diverse community of customers depending on the security and usability of their online experiences.
Joining BehavioSec as CRO, Nelson will align and oversee the company’s entire go-to-market function including sales, partner programs, and customer success, ensuring BehavioSec delivers effective, end-to-end customer buyer journeys. Nelson is an experienced and well-rounded revenue leader with more than 20 years of starting and scaling revenue organizations that propel B2B and SaaS companies. Prior to joining the company, he was the Vice President of Sales and Business Development at Mitek Systems, where he founded the Mitek Identity business and was responsible for its go-to-market strategy and leading the sales organization, achieving 50% year-over-year revenue growth across financial services, e-commerce and gig-sharing economy customers.
“BehavioSec has aggressive goals and is building on a position of strength fueled by doubling the team, tripling revenue and recently adding a top 5 US bank, a leading global online software marketplace, and a major telecom enterprise in Europe to its customer portfolio,” Nelson said. “We offer a strong platform that is beneficial to every consumer and organization, tracing a great path towards their user expansion, and digitally transforming and securing their businesses.”
This announcement follows a series of executive appointments by BehavioSec, who recently named ForgePoint Capital’s Alberto Yepez as Chairman of the Board, and John McCormack as Chief Financial Officer (CFO) in December 2020. This talent brought into the company comes at a critical moment when behavioral biometrics is gaining traction and being deployed by financial services and other organizations to prevent fraud at a time where more consumers and employees are increasingly working from home and banking online.
In his blog post, Nelson reflects on this moment and the 2021 marketplace and what he is hearing from BehavioSec customers as they face increased challenges during the global pandemic and look to solutions like the BehavioSec behavioral biometrics platform to help their fraud and security teams verify users based on how they physically interact with online services from their devices by instantly analyzing keystrokes, cursor movements, touchscreen pressure, and device handling.
If you would like to find out more about how BehavioSec can help better secure digital identity with a vastly superior user experience, visit www.behaviosec.com for more details or to request a demo, or follow @BehavioSec on Twitter to stay up-to-date with the latest behavioral biometrics news and updates.
BehavioSec is the industry pioneer and technology leader for behavioral biometrics and continuous authentication, safeguarding millions of users and billions of transactions today.
Deployed across Global 2000 companies to dramatically reduce fraud, friction, threat, and theft, BehavioSec verifies and protects human digital identities by understanding how we uniquely type and swipe across our ever-changing devices. Whether used in the Cloud or on-premises, BehavioSec delivers the superior user experience, precision, and scale needed by organizations to keep customers engaged while catching evasive, real-time attacks other solutions miss.
Founded in the Nordics in 2008 out of groundbreaking research, industry-recognized BehavioSec partners with market leaders and organizations like DARPA, and has earned investment from top investment firms like Forgepoint Capital, Cisco, ABN AMRO, Conor Ventures, and Octopus Ventures. Headquartered in San Francisco, CA with offices worldwide, BehavioSec is ready to help you reduce risk, improve compliance, and digitally transform your distributed workforce and customer experience. www.behaviosec.com.