Malmo-based Castle is determined to make the Internet a safer place. The startup is working on an intelligent protection against user account fraud and hijacks. So instead of cumbersome passwords and two-step verifications, Castle offers businesses to secure accounts of their users with a real time security analytics.
Back in spring Castle was accepted to the famous Y-combinatory in the US. And now the startup receives an 18 million SEK (1.8 million euro) investment from a number of investors: First Round Capital, Q-Prime Capital and FundersClub as well as a number of business angels, reports DiDigital.
“More than half of Internet users still have the same password for all services they use simply because it is handy. This means that security solutions must be comfortable, otherwise people will not use them. We build the smoothest safety product on the market which eventually means that we can stop using passwords altogether,” says Johan Brissmyr, CEO and co-founder of Castle in a press release.
Castle’s intelligent software learns from users’ behavior, and identifies suspicious activity in real-time. It tracks fraudsters based on device fingerprint, keystrokes, site browsing history, and hundreds of other signals. Administrators are alerted and high-risk accounts are automatically locked the second someone starts behaving suspiciously or tries to log in with a stolen password.
Behind the castle is a number of prominent startup profiles, such as the founders Johan Brissmyr and Sebastian Wallin, previously founded Settlebox. Among the investors are the TAT founder Hampus Jakobsson, Lifesum-CEO Henrik Thorstensson, Online Pizza founder Erik Mellström Byrenius and private investor Anders Frankel.