September 1, 2016 -
According to a statement by the company, Princeton Identity will continue to build on SRI’s legacy of delivering leading-edge biometric technologies for a wide range of government and commercial applications, as well as for mainstream physical identity access management (PIAM) applications.
Primary funding for the launch of Princeton Identity as an independent entity came from Samsung Ventures, a longtime SRI International collaborator on iris biometric technology projects.
“Samsung Ventures is very excited about the opportunity to support the creation of Princeton Identity and the growth opportunity that the biometric technology represents,” said Hyuk-Jeen Suh, Senior Director of Samsung Ventures.
“Iris recognition will enable the next generation of smart devices and IoT to create more secure access control than what is typically available today. The days of remembering and entering passwords will soon be in the past,” said Mark Clifton, Princeton Identity’s Chief Executive Officer. “Princeton Identity will extend the strong legacy of biometrics technology development established by SRI Identity. Launching as a separate venture enables us to place our full focus on becoming a leader in identity management and access control across a number of verticals, including security and mobile access control.”
“SRI and Samsung Ventures have been collaborating to launch a biometrics company for some time and SRI is proud to see the innovation commercialized by Princeton Identity,” said Manish Kothari, Ph.D., President, SRI Ventures at SRI International. “The creation of Princeton Identity is yet another new company born from the SRI innovation engine. This new line of business for SRI’s biometric solutions is an important step in translating technology to the marketplace.”