The startup named ‘TypingDNA’ is a four-year-old startup that was founded in Bucharest, Romania and recently they moved their headquarters to Brooklyn, New York. This startup is raising $7 million by doing something innovative idea. They are using AI-driven technology that helps to identify people based on typing style, it can work on laptops and mobile devices both.
The new SEC (Securities and Exchange Commission) filing states that the company which is graduated from Techstars NYC in 2018 and also last year it closed on €1.3 million in seed funding that is, this startup has raised $5.25 million toward its goal.
This technology seems like its not a brand new technology. The typing biometrics – it is the detailed information of timing which means when each key is pressed and released as the way to identify the uniqueness of a person at the keyboard. A two-year-old article of PCWorld said that the research in the field dates are back 20 years. It also added that inaccuracy have kept the technology from being used as a widespread way to identify individuals. Meanwhile, TypingDNA says that the typing pattern recognition technology which they have developed has an accuracy rate of between 99% and also upwards of 99.9%.
GapMinder Venture Partners, a venture which is based in Amsterdam was the previous sponsor partner of the company. Some people also tried to reach the cofounder and CEO Raul Popa to understand it more. By seeing the filing it is easily understandable that the fund backing this new round is Gradient Ventures which is one of Google’s three-year-old AI-focused venture groups.
When 11 months ago TypingDna roughly raised its seed round then they said that they have planned to use this money to improve their tech and also to expand their presence in both the financial and enterprise sectors. Also, in this, they will be trying to strike their partnerships with more companies that are focusing on identity and fraud prevention.
According to the TypingDNA site, they have also been working with educational organizations to ensure that they are giving the right credits to the students for the work they receive.