Validity Secures $10 Million in Series C FinancingInvestment to Increase Market Share and Establish Leadership Position in Biometric Fingerprint Sensors
San Jose, California, - Validity Sensors, Inc., a privately-held biometric sensor company specializing in convenient, secure and reliable fingerprint authentication solutions, announced today it has completed its first closing and secured a commitment for up to $10 million in Series C financing from its current investors, including TeleSoft Partners, Crosslink Capital, Qualcomm Ventures, VentureTech Alliance and other investors.
This investment enables Validity to leverage the momentum it generated in 2008 with the initial launch of its VFS201 family of biometric fingerprint sensors. During the past year, the company shipped in high volume to key notebook PC OEMs including HP and Acer, won several other prominent designs for 2009, and announced new product feature enhancements such as custom color and back-lit LED options.
“The company has clearly made tremendous progress in the last year across multiple facets of the business. This is testimony to our recent achievements in the fingerprint biometrics market,” said Rob Baxter, Chief Executive Officer at Validity. "We have the technology, the strategy, and the financial backing necessary to further penetrate the Notebook PC market and make an entry into new market segments with our fingerprint sensors.”
“This latest financing illustrates the commitment and confidence in our team, technology, and business model by a world-class investor syndicate,” said Rick Santos, Chief Financial Officer at Validity. “I’m extremely pleased at the support we have received from this group of investors.”
“The Validity team has demonstrated significant progress over the past year in building a solid team, product portfolio and pipeline,” said Arjun Gupta, Managing Partner of TeleSoft Partners. “With its high performance fingerprint sensors and innovative product features, we believe the company is well positioned to maximize its growth and opportunity in the fingerprint biometric sensors market,” added Michael Stark, General Partner and Co-Founder of Crosslink Capital.
About Validity Sensors, Inc.
Headquartered in San Jose, California, Validity Sensors, Inc. develops the world's most durable, flexible and highest performing biometric fingerprint sensor for information, communication and entertainment devices for PC, Mobile, Portable Media and Access Control markets.
Validity's biometric security products enable a wide range of convenient features including password replacement, identity verification, centralized management for corporate network security, secure wireless transactions, protection of portable data, and physical access control. For more information, visit http://www.validityinc.com.
The Validity®® and LiveFlex®® name and logo are registered trademarks of Validity Sensors, Inc.
Contacts
Validity Sensors, Inc.
Prianka Chopra, 408-387-5385
pchopra@validityinc.com
San Jose, California, - Validity Sensors, Inc., a privately-held biometric sensor company specializing in convenient, secure and reliable fingerprint authentication solutions, announced today it has completed its first closing and secured a commitment for up to $10 million in Series C financing from its current investors, including TeleSoft Partners, Crosslink Capital, Qualcomm Ventures, VentureTech Alliance and other investors.
This investment enables Validity to leverage the momentum it generated in 2008 with the initial launch of its VFS201 family of biometric fingerprint sensors. During the past year, the company shipped in high volume to key notebook PC OEMs including HP and Acer, won several other prominent designs for 2009, and announced new product feature enhancements such as custom color and back-lit LED options.
“The company has clearly made tremendous progress in the last year across multiple facets of the business. This is testimony to our recent achievements in the fingerprint biometrics market,” said Rob Baxter, Chief Executive Officer at Validity. "We have the technology, the strategy, and the financial backing necessary to further penetrate the Notebook PC market and make an entry into new market segments with our fingerprint sensors.”
“This latest financing illustrates the commitment and confidence in our team, technology, and business model by a world-class investor syndicate,” said Rick Santos, Chief Financial Officer at Validity. “I’m extremely pleased at the support we have received from this group of investors.”
“The Validity team has demonstrated significant progress over the past year in building a solid team, product portfolio and pipeline,” said Arjun Gupta, Managing Partner of TeleSoft Partners. “With its high performance fingerprint sensors and innovative product features, we believe the company is well positioned to maximize its growth and opportunity in the fingerprint biometric sensors market,” added Michael Stark, General Partner and Co-Founder of Crosslink Capital.
About Validity Sensors, Inc.
Headquartered in San Jose, California, Validity Sensors, Inc. develops the world's most durable, flexible and highest performing biometric fingerprint sensor for information, communication and entertainment devices for PC, Mobile, Portable Media and Access Control markets.
Validity's biometric security products enable a wide range of convenient features including password replacement, identity verification, centralized management for corporate network security, secure wireless transactions, protection of portable data, and physical access control. For more information, visit http://www.validityinc.com.
The Validity®® and LiveFlex®® name and logo are registered trademarks of Validity Sensors, Inc.
Contacts
Validity Sensors, Inc.
Prianka Chopra, 408-387-5385
pchopra@validityinc.com
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