Veridium raises USD 16.5 mln to further biometrics development

Tuesday 3 July 2018 00:25 CET | News

Veridium, a US-based authentication solutions provider using biometrics instead of passwords and tokens, has closed its Series B funding round of USD 16.5 million.

The round was led by Michael Spencer, with participation from Citrix Systems and Michael Powell. Michael Spencer is the Group Chief Executive Officer of NEX Group, which is in the process of being acquired by CME Group for USD 5.5 billion. He will be joining Veridium’s board of directors along with Michael Powell and Citrix.

Using Veridium’s software-only biometrics platform, users can replace passwords, tokens, OTPs or swipe cards with multiple biometrics from their smart phone, including: native device sensors such as face and fingerprint, and Veridium’s 4 Fingers TouchlessID.

The authentication solutions provider has customers across the globe spanning multiple industries. Most recently the company has added several of the world’s largest financial services organizations. In May 2018, the company announced that a multinational Swiss bank selected Veridium to replace passwords, tokens and swipe cards.

The company intends to use the funds to accelerate development of biometric authentication technology and to scale its sales and marketing infrastructure across the Americas, Europe and Asia. Currently, Veridium has offices in the US, the UK and Romania.

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Keywords: Veridium, mobile banking, biometrics, fingerprints, tokens, funding round, 4 Fingers TouchlessID, fingerprint, security, fraud, authentication
Countries: World

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