Experian Acquires NeuroID to Enhance Fraud Detection Capabilities
Eller College of Management professor Joe Valacich co-founded NeuroID in 2015.
Molly Condit/Great Bear Media
NeuroID, a technology firm founded in 2015 at the University of Arizona with the support of Tech Launch Arizona, has been acquired by global credit firm Experian. NeuroID's unique anti-fraud technology will positively impact Experian, allowing the firm to further mitigate fraud risk and better serve its clients.
NeuroID was founded in 2015 by Eller College of Management professor of management information systems and Muzzy Endowed Chair Joe Valacich and Jeff Jenkins, a then-Ph.D. student at Eller who is now a professor of information systems at Brigham Young University's Marriott School of Business.
Neuro-ID co-founders, Jeff Jenkins and Joe Valacich
Valacich and Jenkin's research on mouse-cursor tracking and other methods of human-computer interaction, such as typing, was first aimed at reducing consumer frustration. However, it soon evolved into a fraud-protection method that assesses an individual's credibility. What started as a university research project quickly developed into the formation of the company that has since grown to become a global leader in fraud detection.
The technology measures a user's familiarity with the data they enter and interact with online. It then analyzes this behavioral data in real time and determines if users are human or bot, and if the human is genuine or risky.
Valacich and Jenkins conducted their initial research for the technology at the U of A. They worked with TLA, the university's technology commercialization arm, to protect the intellectual property they developed and strategize to launch a startup to bring the product to market.
Neuro-ID Team
"When TLA first began working with Dr. Valacich on the IP (intellectual property) that eventually formed the foundation of NeuroID, we knew there was really something there, and Joe's passion for moving it into the market was infectious," said Douglas Hockstad, associate vice president of TLA. "I'm not surprised that Experian found this company and the technology so compelling. With this acquisition, the impact of their research and innovation will continue to grow. I look forward to more cutting-edge innovations from Eller and Joe."
NeuroID was named Tech Launch Arizona Startup of the Year in 2020. Not long thereafter, in May 2024, Valacich received the University Distinguished Innovation and Entrepreneurship Award.
"The acquisition of NeuroID by Experian highlights the University of Arizona's growing reputation as a hub for innovative technology," said Karthik Kannan, dean and Halle Chair in Leadership of the Eller College. "NeuroID's success demonstrates how academic research can translate into real-world solutions. This deal not only benefits the company and its founders but also reinforces U of A's commitment to fostering entrepreneurship and cutting-edge research in fields like cybersecurity and fraud detection."
The Eller College has been repeatedly recognized for its programs, including management information systems. Most recently, U.S. News & World Report's 2024 Best Business Rankings listed Eller as the No. 1 Information Systems MBA Program, in addition to other high rankings.