Validity Sensors has raised $22 million in Series E financing, including investment by Intel Capital. The company held an initial close of the round in early October, led by TeleSoft Partners and including participation by Qualcomm Ventures, VentureTech Alliance, Panorama Capital and Crosslink Capital. Validity Sensors is backed by San Jose, Calif.
Validity Sensors, Inc., the leader in Natural ID(TM) 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.
Headquartered in San Jose, California, Validity is the world leader in Natural ID authentication, providing fingerprint sensors with the highest levels of performance, security, cost-effectiveness and design flexibility.
Validity’s patented LiveFlex(R) fingerprint sensor technology enables authentication, mobile payments, and touch-based navigation for applications ranging from invisible, under-glass sensors for smartphones; buttons for handsets and tablets; and the world’s thinnest palm-rest designs for Ultrabook(TM) computers. For more information, visit www.validityinc.com . For the latest news on biometrics and authentication, please be sure to read the Natural ID blog by Validity CTO, Sebastien Taveau.
About Intel Capital
Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10.7 billion in over 1,257 companies in 53 countries. In that timeframe, 201 portfolio companies have gone public on various exchanges around the world and 308 were acquired or participated in a merger. In 2011, Intel Capital invested US$526 million in 158 investments with approximately 51 percent of funds invested outside the U.S. and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
SOURCE: Validity Sensors, Inc.