A startup from Cluj-Napoca has developed Typing AI Biometrics, a password killer application that identifies users by the way they type, using AI and ML by tracking biometrics behavioral.
Typing AI was created as a side project by Rares Pascut, the CEO and lead developer of the company. After reaching a detection accuracy score of over 99.9% the company was incorporated in Croatia.
The company now has a remote team of 4 members split across Romania, Croatia and India and it received a of 50, 000 financing in 2021 from Fil Rouge Capital, a Croatian VC. Also in 2021 the company successfully completed the Romanian Advancing AI 2 accelerator supported by Gapminder VC.
“Our mission is to make the internet a safer place to be. By eliminating passwords, businesses can immediately reduce churn and cart abandonment and provide superior security for personal data.
We have transformed authentication, making it faster, simpler and better! That’s why we are helping more and more developers and businesses to secure web, mobile and desktop applications using typing biometrics authentication based on Artificial Intelligence and Machine Learning,” said the CEO.
Rares Pascut explained why they are different on the market. “Organizations lose millions of dollars every year due to “inherently unsafe” password-based authentication, according to the startup; not only do weak passwords account for more than 80% of all data breaches, but the average help desk labor cost to reset a single password stands at more than $70.
Hackers make millions of dollars from data breaches, from hacked accounts and their phishing attempts. Hackers are smart and they found ways to bypass the existing security solutions. Typing biometrics is unique to each person and this is why hackers won’t be able to access the users accounts, even if they know the account access credentials.
Typing AI is a password killer. Organizations lose millions of dollars every year due to “inherently unsafe” password-based authentication. Not only do weak passwords account for more than 80% of all data breaches, but the average help desk labor cost to reset a single password stands at more than $70.”
Typing AI Biometrics’ ideal customers are Banks, FinTech’s and Top 500 companies looking for enterprise grade security.
“The biggest problem in the banking and fintech world right now is the security of the sensitive data. A data breach can lead to bankruptcy. Due to the Covid 19 pandemics, schools and colleges were forced to take exams online, some of our customers are educational organizations such as state and private schools, colleges, online courses and webinar platforms,” said the company’s representatives.
Currently the company has over 1000 nonpaying monthly active users, and their biggest customer has over 1 000 000 registered users and is based in the United States of America.Typing AI has served over 300 000 unique users up until now from Europe, USA and Asia.
The company aims to raise an investment of 300 000 euro in order to boost development, marketing and sales and has new plans for the future.
“We are in the process of launching a new product which will be a direct Google competitor.
In the following 6 months we will launch a mobile application and we will provide more user identity check solutions. We will launch a suite of Multi Factor Authentication products. Typing Biometrics is the core product and we will provide some adjacent Identity as a Service solution to strengthen our enterprise grade security.
We are currently looking to grow our team with a Junior Full stack Developer, a Sales representative and a Marketing & Conversion Rate Optimization specialist,” said Rares Pascut.