$100M Clear funding round shows biometric platform growth beyond aviation
Clear has announced the completion of a $100 million funding round and intentions to use it to accelerate the growth of its biometric identity verification platform. Investments will be made in new customer acquisition, hiring and technology development as the company diversifies and expands its reach.
Investors participating in the funding round are headlined by Danny Meyer’s Enlightened Hospitality Investments, 32 Equity (the investment arm of the National Football League) and the Partnership Fund for New York City, which Clear says shows the expansion of its partnership base. Other new partners in the funding round included Liberty Media, LionTree Partners, and Michael Jordan’s family office.
Clear’s existing partners such as BOND, Durable Capital Partners LP, General Atlantic and Revolution Growth also participated in the round. It said new investors joining in underscores its desire to go beyond its traditional aviation industry.
The Health Pass, Clear explains, is a mobile application that makes it safer and easier for people to get back to doing what they know and love. It leverages biometrics to connect members’ identity to COVID-related information, including vaccination results, to reduce public health risk and help re-start the economy.
The solution is already being used by more than 35 organizations in North America including the National Hockey League (with whom CLEAR has signed a league-wide partnership), MGM Resorts, the 9/11 Memorial & Museum and nine NBA teams, Clear reveals.
“Since 2010, Clear’s vision has remained constant: to provide our members frictionless journeys that make it easy to experience what they love doing best. With this new investment and our committed partners, we are ready to double down and make this vision possible at a time when it’s more important than ever to be able to come together safely,” Caryn Seidman-Becker, Clear CEO and founder, said.
Official of some of the investment partners such Enlightened Hospitality Investments, the Partnership for New York City, and the Partnership Fund for New York City, all praised Clear’s health pass technology and said it was their pleasure to contribute to efforts aimed at using it to rebuild the economy, and to bring people back to work places, shops, restaurants and businesses.