Dec 10 2012
Validity Sensors, Inc., the leader in Natural ID™ authentication, today announced that Intel Capital has completed a strategic investment as part of its Series E Financing.
Intel’s investment combined with additional strategic investments from World Fair and DDS brings the total Series E capital commitments to more than $22 million. This follows an initial closing on October 4, 2012, led by TeleSoft Partners that included full participation from Qualcomm Ventures, VentureTech Alliance (the venture capital arm of TSMC), Panorama Capital and Crosslink Capital.
“Validity’s technology addresses an important need to make computing devices and the transactions completed on them more secure while actually increasing ease of use for the end user,” said Dave Flanagan, Managing Director, Intel Capital. “This investment reflects our commitment to collaborate with the fingerprint sensor market leader to create differentiated products for mobile and computing platforms.”
“We are pleased with Intel Capital’s engagement and are excited about the opportunity to work with an industry leader who shares our vision for authentication,” said Rob Baxter, Chief Executive Officer, Validity. “This infusion of capital will enable us to extend our technology leadership and accelerate our products for mobile and tablet markets.”
Since launching its products in 2008, Validity has shipped more than 30 million sensors into consumer electronics products and is now focusing its resources on the multi-billion unit mobile phone and tablet markets that require convenient password authentication, improved mobile payment features and enhanced device navigation.
Source: http://www.validityinc.com/