Confirmix raises $1.25 million to support commercialization of biometric technologies
West Virginia University and Confirmix announced that Confirmix has raised $1.25 million in angel investment to support the commercialization of the company’s biometric technologies that it initially developed in the WVU Multispectral Imaging Laboratory.
Previously reported, Confirmix is licensing SecureSelfies through WVU, which uses facial recognition technology to protect private data on a smartphone by taking a selfie,
“WVU is excited about this significant investment in Confirmix,” said Rob Alsop, vice president for legal, government and entrepreneurial engagement at WVU. “This round demonstrates the amazing quality of the research performed by our faculty and students and the entrepreneurial talent that is attracted to do business at WVU. We look forward to the success of Confirmix and the continued evolution of north-central West Virginia as a center for the development of the biometrics and identity-management industry.”
Confirmix said it will use the funding to develop biometric technology for consumer identity and authentication products for both enterprise and consumers, while its enterprise products will be marketed through its flagship brand, Confirmix.
The company’s consumer products will be marketed through its already-developed SecureSelfies brand and will focus on prevention of unauthorized access of mobile phones and tablets, as well as photos and other personal information that are stored on these devices.
Confirmix recently cancelled its Kickstarter campaign just a couple of days before its official end date after reaching just $13,165 of its $50,000 goal.
In addition to funding its development activities, Confirmix will use some of the proceeds from the investment to support the launch of its new sales office in the Chicago-metropolitan area.
“This angel investment demonstrates the tremendous market opportunity that exists with Confirmix and the biometric technologies licensed from WVU,” said Terry Upton, Confirmix chairman and angel investor. “We believe that the technologies are the key building blocks for future market-leading products in the identity-management space.”