CLEAR completes $20 million equity financing round

October 15, 2015 - 

CLEAR announced it has raised a $20 million equity financing round from a group of investors led by T. Rowe Price Associates, Inc.

The company currently provides secure entry biometric services at 12 major airports and at three major league baseball stadiums across the United States.

In addition to T. Rowe Price, other new investors include Jeffery H. Boyd, chairman of the board and former CEO of The Priceline Group Inc.; Robert Mylod, the former CFO of The Priceline Group Inc.; and Sterling VC, a co-investment initiative of Sterling Equities.

“The funding will drive innovation and accelerate the growth of our secure identity platform, allowing us to further redefine and improve the customer experience across multiple channels,” said Caryn Seidman-Becker, CLEAR’s co-founder and CEO. “CLEAR’s technology is easily adaptable and provides our customers with a universal key to a frictionless experience, whether they be travelers, fans at sporting venues or anyone accessing a highly trafficked location.”

Boyd, as well as former Flowserve Corp. president and CEO Lew Kling, have joined CLEAR’s board of directors.

“CLEAR has a proven, market-leading technology that has been successfully deployed in some of the nation’s busiest airports and baseball stadiums,” Boyd said. “We believe in CLEAR’s vision and ability to expand and become a leader in the secure identity field. I look forward to working with CLEAR to further scale the business.”

The company’s leadership team has grown significantly over the last year as it focuses on growing its technology capability to fulfill one of its ongoing mission goals to embrace and lead innovation.

Previously reported, Clear announced it is expanding its expedited traveler service to Austin-Bergstrom International Airport, providing fingerprint recognition and iris scanning technology to enable a faster and more seamless experience for members of the Clear Fast Access program.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.