Intel Capital makes strategic investment in Validity Sensors as the company eyes the mobile market
Intel Capital’s investment comes as a part of Validity’s Series E Financing. Including Intel’s invesment, along with others from World Fair and DDS bring the total Series E capital commitments to more than $22 million. According to the company, this follows an initial closing on October 4, 2012, led by TeleSoft Partners that included full participation from Qualcomm Ventures, VentureTech Alliance, Panorama Capital and Crosslink Capital.
“We are pleased with Intel Capital’s engagement and are excited about the opportunity to work with an industry leader who share our vision for authentication,” Rob Baxter, CEO of Validity said. “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.
“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,” Dave Flanagan, managing director of Intel Capital said.