Plurilock surpasses $1 million in revenue for biometric authentication software

Victoria-based Plurilock Security Solutions (Plurilock), which provides behavioural-biometric cybersecurity tools, announced that it has surpassed $1 million in revenue in the midst of launching a SaaS-based version of its cybersecurity product suite.

Plurilock’s product suite uses behavioural biometrics and AI to provide continuous authentication, rather than login-based authentication. Users are continuously authenticated as they work based on patterns in their keystrokes and mouse movements.

The company’s platform allows organizations to discover insider threats, privileged access elevations, and misused credentials. Plurilock also announced it has added a product for user behaviour analytics use cases, and said high-demand for this feature—which bring patented capabilities from its on-premise BioTracker product into the cloud—allowed it to surpass $1 million in revenue in 12 months.

“Enterprises are struggling to balance security, both internally and externally, while still enabling their end users to get work done,” said Plurilock CEO Ian Paterson. “We’ve seen tremendous uptake for our invisible identity assurance to eliminate the friction from authentication, including logins, remembering passwords, annoying step up two factor prompts, while reducing the time to detect intrusions from months to seconds.”

Paterson said he launched Plurilock to address challenges in the cybersecurity and authentication space, especially as enterprises struggle to manage security both internally and externally. The company’s team put over 35,000 hours of research to build its platform, and raised a $3 million funding round in July.

“We’ve refined our product offering to give customers the deployment flexibility that they need to meet a variety of requirements.”

Paterson said Plurilock’s software does not require direct user interaction, allowing authorized individuals to complete their daily work without friction. If an unusual behaviour occurs, the software detects the anomaly immediately, prompting the user for manual authentication and alerting security staff instantly. Paterson said this cuts the average breach detection time dramatically, from more than six months to less than 30 seconds.

Plurilock’s new cybersecurity suite includes Plurilock Aware, which allows organizations to identify users through the patterns of their keystrokes and mouse movements; and Plurilock Defend, which provides continuous, invisible endpoint and detection response (EDR) against identity threats. Specifically, Plurilock Aware integrates with existing systems and monitors users’ behaviour to provide identity risk scores, while Plurilock Defend provides a continuous EDR solution for workplace identity threats.

“Governments and businesses are recognizing the need to go beyond single-point-in-time user validation to a real-time approach that continuously assures users’ identities,” said Ian Paterson, CEO of Plurilock. “We’ve refined our product offering to give customers the deployment flexibility that they need to meet a variety of requirements.”

Plurilock said it plans to use its new offerings to serve the government, as well as financial and other regulated industries that face sophisticated threats.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.