The Israeli startup launched an Android version of its app that notifies users of data breaches at places they have shopped
Late last year Target Corp. announced a data breach in which information from 40 million credit cards was stolen, and while that may have been one of the biggest breaches of all time, it was hardly unusual.
Credit card information is stolen all the time, and there aren’t many ways to protect your plastic from falling into the wrong hands. One Israeli startup, BillGuard, meanwhile recently launched an app that can alert users of data breaches that have occurred at places they have shopped and hopefully help prevent the headache that comes along with stolen credit card information.
The personal finance app launched its Android phone and Android Tablet version on May 15 after almost a year of success on the iPhone. BillGuard lets users know when hackers may have access to their cards following data breaches at places where the user has shopped via emails or push notifications. After alerting users to the breach, the app continues to monitor cards and can alert users to any suspicious activity, while making it easy for users to check charges on their own.
Guard your plastic
The app launched in the U.S. and Canada for iPhones in July 2013 and so far has more than 500,000 users. That number continues to grow by about 2,000 per day. Since the Target breach in November, BillGuard has helped users identify more than $1 million in fraudulent transactions. The company also said it was the first service to directly alert affected customers of Target, Neiman Marcus, Michaels Stores, Sally Beauty and California DMV after their respective breaches.
BillGuard supports more than 5,000 credit and bank accounts at Chase, Bank of America, Citibank, Wells Fargo, HSBC, Capital One, BB&T, SunTrust, American Express, Discover and PayPal.
Aside from the security applications, BillGuard is also a personal finance tracker that can help with short term and long term budgeting. The app has notifications that ask users to swipe to confirm individual charges and has an all clear setting for when all charges are confirmed that breaks down the charges by category. Meaning the app can tell you how much you spent on food, clothing, eating out or other expenditures since you last confirmed charges.
The company was founded by Yaron Samid (CEO), and Raphael Ouzan (CTO), and has 23 employees at offices in New York and Tel Aviv. BillGuard has raised $13 million from investors including Bessemer Venture Partners, Khosla Ventures, Founders Fund, Innovation Endeavors, IA Ventures and SV Angel.