March 27, 2015 -
Integrated Biometrics announced that it has received a later-stage capital raise from SCRA’s Stage 2 affiliate.
SCRA’s Stage 2 sponsors larger investments of $1 to 5 million in more mature South Carolina-based technology companies.
The firm invests its capital together with outside, private co-investment on a deal-by-deal basis.
“We are grateful for our relationship with SCRA and Stage 2,” Integrated Biometrics CEO Steve Thies. “This investment reaffirms our technology and provides Integrated Biometrics with capital to enable us to more rapidly market our technology.”
“Our Stage 2 program applies retained earnings from SCRA’s core R&D operations to augment growth of South Carolina’s high tech landscape,” said SCRA CEO Bill Mahoney. “We are pleased to see Integrated Biometrics growing through our earlier SC Launch investment and meriting larger, later-stage capital investments. We look forward to continued successes for our Stage 2 program and its invested clients. At this juncture, we anticipate many future opportunities to co-invest with our Stage 2 partners.”
In a separate announcement, Integrated Biometrics also revealed it joined Biometrics Institute, an independent and impartial forum that promotes the responsible use of biometrics for biometric users and others.
Sales engineer Joe Hoerl attended the Biometric Institute’s member meeting in Washington, D.C. on March 26, and will also be demonstrating Integrated Biometrics products at Biometric Institute’s Identities at the Border and Future of Travel seminar in the Netherlands on April 21-23.
Biometrics Institute’s membership includes nearly 140 organizations from 16 countries including the Royal Bank of Scotland, Israeli Prime Minister’s Office, Ministry of Defence Singapore, Australian Customs, and the Federal Bureau of Investigation (FBI).
Some of its key responsibilities are working with members and key stakeholders to provide policy input to governments, liasoning with standards organizations, and hosting expert groups which have developed a Privacy Guideline and Checklist and a Vulnerability Assessment Methodology.
“We’re looking forward to participating as an active member of the Biometrics Institute’s worldwide biometrics network,” said Thies. “Our leadership team is well-acquainted with the international needs for enhanced mobile security technology, as so much of the business we do with our customers and vendor partners is global in scope.”