May 11, 2015 -
FST Biometrics announced it has received a $15 million investment from GMF Capital, the investment group controlled and led by global investor Gary Fegel.
As part of this agreement, GMF Capital has named former Israeli Prime Minister Ehud Barak as its representative on the FST Biometrics board.
FST Biometrics’ In Motion Identification (IMID) solution combines facial recognition and behavioral analytics to provide seamless secure access solutions to the global marketplace.
The technology identifies authorized users at a distance and while in-motion. One of the greatest benefits of the solution is that there is no requirement that slows down or halts the facial recognition process making it accurate, reliable and non-intrusive.
“Based on my deep knowledge of Israel’s security ecosystem and the secure access solutions market, I am convinced that FST Biometrics has developed the market leading Secure Identification solution for today’s market and that of the foreseeable future,” said former Prime Minister Barak. “I look forward to supporting the company’s efforts.”
The FST solution has a wide range of global applications across the public and private sectors beyond the traditional access control market.
The solution is currently serving clients within the corporate, retail, financial services, telecommunications, residential and governmental sectors.
“I strongly believe that FST Biometrics stands out as a best-in-class technology solution with a strong, motivated management team poised to disrupt the existing market and deliver attractive growth,” said Gary Fegel. “I am pleased and enthusiastic to support FST Biometrics as they continue building the global benchmark in the new paradigm of In Motion Identification.”
Previously reported, FST Biometrics recently named Yaron Zussman CEO of FST Biometrics America.