Luxembourg (PRWEB) July 22, 2014
Isis Innovation, the University of Oxford’s commercialization company, announced that the company has raised sufficient funds from private investors to launch its first product, NoMoreCaptchas.
Adrian Neal, founder and CEO at Oxford BioChronometrics, said: “Using markers that distinguish the behavior of humans from spam bots, our software reveals who or what is knocking on the door of any site or app. We found that at least 96.5% of these attempts to login are by bots, not human users.
“We can also determine whether ads are being clicked on by bots or humans, providing assurance to online advertisers that their budgets are not being wasted on bots and are actually being seen by humans. We can detect human bots and bot farms, which is a hugely important step for firms wanting to manage their online advertising cleverly and effectively.”
Oxford BioChronometrics’ software captures user inputs and creates a signature that is more individual than a fingerprint. These signatures cannot be replicated by human beings or by bots and create what the company calls a user’s electronically Defined Natural Attributes, or e-DNA.
“Traditional authentication tools such as passwords, PINs, and one- time-codes are cumbersome and can still be hijacked by viruses and hackers,” said Neal. “As banks and merchants move away from desktop PC online banking and into mobile banking apps, our ability to authenticate users from one device to another becomes very important in ensuring safe online transactions and avoiding scams.”
Tom Hockaday, managing director of Isis Innovation, said: “What this young company has accomplished with the support of our Isis Software Incubator is truly extraordinary and potentially game-changing for online commerce.”
The NoMoreCaptchas software is already being used by hundreds of websites around the world. The company now plans to focus on providing a seamless user experience while working to eliminate the need for passwords all together.
The algorithms used were developed by Neal, software engineering master’s graduate and cryptographics expert at the University of Oxford and his co-founders, also post-graduate researchers at the University.
In 2013 Oxford BioChronometrics was established as a venture within the Isis Software Incubator and the company won global funding platform TreveriMarket’s first Annual Start-up Competition at ICT Spring Europe 2013. As the judges commented, “With its potential to truly revolutionize the way we do business on the Internet, Oxford BioChronometrics stood out as the clear winner.”
The Isis Software Incubator is a key part the University of Oxford’s entrepreneurial infrastructure, supporting young software ventures in the development of products or services and helping them trade before they receive investment. The incubator has been operating since late 2010 and launched an on-site incubation facility in mid-2011. It has taken in 29 ventures, of which 12 have incorporated, 8 have raised VC, angel and grant funding and 6 have graduated the program.
The incubator is based in Summertown, Oxford at the offices of Isis Innovation, the University’s technology commercialization company. Companies accepted into its programs receive access to commercial mentoring, intellectual property advice, marketing and support for early operational expenditure.
Incubator companies work in a wide range of fields including energy usage analysis, text analytics, social media networks and data analysis. Contact incubator(at)isis(dot)ox(dot)ac(dot)uk
Oxford BioChronometrics takes its name the way the technology analyses behavior for life signs (bio) measured over time (chronometric).