FB pixel

EyeVerify raises $6 million from Wells Fargo, Sprint and Qihoo 360

EyeVerify raises $6 million from Wells Fargo, Sprint and Qihoo 360

EyeVerify Inc. today announced the completion of its Series A equity funding round. The San Francisco-based firm, which develops patented biometric technology that eliminates passwords on mobile devices, raised US$6 million.

The funding will enable EyeVerify to drive mass adoption of its biometric technology directly and through key channel partners within the financial services, enterprise mobility, mobile security, telecom, healthcare and government markets.

EyeVerify will receive this funding from Qihoo 360, Wells Fargo, and Sprint, as well as from its initial investors. This round of financing brings total funds raised by the company to approximately US$10 million.

Toby Rush, CEO and Founder of EyeVerify said: “No marketplace validation could be stronger than strategic investments by giants in the mobile space, including the largest security software firm in world, the leading bank in the U.S., and a wireless network operator serving more than 50 million U.S. customers.”

EyeVerify Inc. is the creator of Eyeprint ID, a highly accurate biometric technology for mobile devices, that delivers password-free secure authentication by using existing cameras to image and pattern-match the blood vessels in the whites of the eye.

“We are fortunate to have a breakthrough technology that delivers a simple, secure, and private solution that eliminates password pain and password security risk, addressing a massive and escalating market need,” Rush added.

The financial services industry is one of the largest industries to benefit from Eyeprint ID. According to Rush, examples of how financial institutions can utilize Eyeprint ID include protecting employees’ phones via mobile device management, protecting customers’ phones when they conduct mobile banking, and ensuring safe and secure mobile mortgage, insurance, investment, card, and electronic payments.

Due to these security benefits, EyeVerify was invited to become an inaugural participant in Wells Fargo’s Startup Accelerator. The Startup Accelerator is a semi-annual boot camp for innovators whose technology ideas could shape future customer experiences in financial services.

“We’re excited to be investing in EyeVerify through our accelerator,” said Steve Ellis, head of Wholesale Services at Wells Fargo. “It represents precisely the technology innovation in mobile security for financial services and e-commerce that is important to us.”

In addition to Wells Fargo, Sprint also indicated its deep commitment to Eyeprint ID.

“With mobile security evolving beyond passwords, we are pleased to invest in EyeVerify and its easy-to-use innovative biometric solution,” stated Kevin McGinnis, a Sprint vice president.

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News


What to do if certificates for passive authentication fail

By Ihar Kliashchou, Chief Technology Officer at Regula Electronic documents are praised for their top-notch security, mainly due to RFID chip…


Biometric passports get refresh in Indonesia, face hurdles in Lebanon and Kenya

Nations across the global south are looking to biometric passports as the next generation of travel documents. Indonesia will mark…


Biometrics, electronic devices and identity credentials converging

Biometrics in electronic devices and ID documents to support digital identity are a major theme of the week’s top stories…


SITA wraps up acquisition of Materna IPS

SITA reports it has completed all necessary regulatory and legal procedures and finalized its acquisition of Materna IPS, a provider…


Payface lands new retail biometric payments deal in Brazil

Brazilian face biometrics payments startup Payface has clinched a deal with supermarket chain Ítalo. Ítalo Supermercados, based in the southern…


EU to fund digital programs with €108m, including digital identity

The European Union has issued a new call for funding within the Digital Europe Programme (DIGITAL), allocating over 108 million…


9 Replies to “EyeVerify raises $6 million from Wells Fargo, Sprint and Qihoo 360”

Leave a Reply

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

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events