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

 

Harmonized digital driving license in EU approved as part of driving reform package

The EU is getting closer to a harmonized mobile driver’s license (mDL) with the approval of a provisional deal on…

 

DARPA taps Aptima to bring media forensics to market amid deepfake surge

The Defense Advanced Research Projects Agency (DARPA) has awarded a commercialization contract to Aptima, Inc. that marks a critical inflection…

 

Parsons secures sole source deal to equip U.S. Air Force with biometric kits

The U.S. Air Force Air has issued a notice of intent to award a sole-source contract to Parsons Corporation for…

 

Gov.uk Wallet ‘empowering the market,’ says Kyle, in big win for OSPs

After a tense few weeks, the UK government has released the working principles for the Gov.uk Wallet plan that has…

 

Biometrics integrations, identity intelligence improve financial services onboarding

Major integrations for Fourthline and BioCatch are expanding the reach of their biometric user onboarding and KYC technologies, as financial…

 

Pakistan introduces digital birth, death registration in health facilities

Pakistan has taken a decisive move to streamline birth and death registration by digitizing the process and making services available…

Comments

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.

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events