FB pixel

Communication Intelligence Corporation closes $1.1M funding round

 

Communication Intelligence Corporation announced it recently closed a new round of funding with a handful of existing and new investors providing working capital.

The announcement comes a few months after Communication Intelligence Corporation closed its previous round of funding, raising a total of $2.7 million.

For this round of funding, investors subscribed to approximately $1.1 million of the company’s Series D-1 Preferred Stock, resulting in a conversion rate of approximately $0.0225 per share.

“After evaluating a number of funding alternatives, we opted for this smaller private placement to limit shareholder dilution,” said Philip Sassower, chairman and CEO for CIC. “This additional capital injection, together with the funding available under the previously announced credit agreement with ICG, is expected to provide CIC with sufficient runway to execute on our healthy pipeline of opportunities, and to delay consideration of a broader-based strategy to recapitalize the company and to improve the trading environment for our shares of common stock. Phoenix and its investment partners remain committed to CIC and optimistic in the company’s ability to successfully execute its business plan.”

More information about this funding round can be found in CIC’s Current Report on Form 8-K that it said it will soon file with Securities and Exchange Commission.

CIC provides electronic signature products, with a particular focus and expertise in biometric signature verification – a behavioral measure.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

10 million passkeys registered for Mercari market app amid phishing crisis

Mercari, the Japanese e-commerce company behind the Mercari marketplace, has surpassed 10 million registered users of passkeys for authentication. A…

 

Project NOLA’s facial recognition push raises legal and civil rights questions

This week, the New Orleans City Council’s Criminal Justice Committee is expected to convene a hearing to address concerns about…

 

PNG launches birth registration legislation in landmark for national ID project

Papua New Guinea is taking a concrete step in making sure every citizen is officially recognized and able to access…

 

Yoti improves liveness detection pass rates

Digital identity and age estimation company Yoti has released new figures on its liveness detection technology, showing success rate improvements…

 

Inclusive digital ID poised for leap forward with QR codes, similar credentials

QR codes have been around for decades, but they and other similar technologies have only recently emerged as digital identity…

 

Age assurance debate simmers across EU with calls for stronger measures

Age checks remain in the headlines with new proposals from EU digital ministers to go further with legislation limiting social…

Comments

3 Replies to “Communication Intelligence Corporation closes $1.1M funding round”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events