Reinventure has backed a seed round into cybersecurity company, Kasada, which helps protect companies against malicious and fraudulent online activity. Founded by 22 year old Sam Crowther, who has already worked for the Department of Defence and Macquarie Group as a security consultant, Kasada will use the funding to both grow the local team and expand to the United States.
Kasada’s key product, Polyform, detects and mitigates automatic bots, ultimately preventing malicious attacks designed to break into customer accounts. This technology also lets businesses see how much of their website traffic is genuine, allowing them to gain more accurate web analytics. Polyform is able to differentiate between website requests from a bot or a real person, by looking the speed of requests, and presenting a challenge to solve if a bot is detected, which eats up computer power and results in bots diverting their attention elsewhere.
We are excited about the opportunity for “cyber security as a service”, which could see banks validating technology and recommending to customers, solutions to improve online security.
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