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United States : EYEVERIFY INC. completes $6 million in series A equity funding

August 21, 2014

The San Francisco-based, EyeVerify Inc. have completed its Series A equity funding round raising US$6 million. The firm deals in development of patented biometric technology that eliminates passwords on mobile devices.

Through this funding, EyeVerify will be in a position to drive mass adoption of its biometric technology directly and through key channel partners within the financial services, enterprise mobility, mobile security, telecom, healthcare and government markets.

This funding will be from Qihoo 360, Wells Fargo, and Sprint, also involving its initial investors. Following this financing round, total funds raised by the company stands to around US$10 million.

Toby Rush, CEO and Founder of EyeVerify said, No marketplace validation could be stronger than strategic investments by giants in the mobile space, including the largest security software firm in world, the leading bank in the U.S., and a wireless network operator serving more than 50 million U.S. customers.

We are fortunate to have a breakthrough technology that delivers a simple, secure, and private solution that eliminates password pain and password security risk, addressing a massive and escalating market need.

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Source: TendersInfo (India)

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