B-Secur raises $12M to bring heartbeat biometrics to US market
Northern Irish leader in ECG monitoring and biometric authentication, B-Secur, has raised US$12 million, and announced its intention to accelerate the commercial expansion of its technology within the consumer and medical industries in the U.S.
The financing round was led by Colorado-based First Capital Ventures, the first time the company has received funding from a U.S. investor.
“We are delighted to welcome First Capital Ventures as our latest and first U.S. investor alongside the continued commitment from our existing investor base,” said Alan Foreman, co-founder and CEO at B-Secur.
Dr. David Steinhaus, former medical director and VP at Medtronic for 14 years has now joined the company’s senior management team as the Americas Advisor to the Board. Three other new joiners have been announced to contribute to the expansion into the medtech sector; Data Analysts Andrew Miller and Naomi McCord, alongside Hardware Design Technical Specialist Julian Równy.
University of Utah Assistant Professor Benjamin Sanchez has been appointed as Scientific Advisor to the Board and Sean Fallon as VP of U.S. Sales.
B-Secur’s HeartKey received FDA clearance earlier this year, for biometric user identification and integration into leading devices and systems, containing a suite of seven algorithms to run accurate measurements.
This was concurrent with substantial business growth in 2021; in September the company completed the creation of a full solution stack to accelerate ECG application development and particularly to provide easy access to development integration of B-Secur’s HeartKey technology for smaller consumer wearable device makers.
Meanwhile this month B-Secur joined semiconductor giant STMicroelectronics’ Partner Program and launched a guide to integrating its medical-grade, FDA-cleared HeartKey software library with the STM32 microcontroller.
Previous investors in the company have included UK-based Kernel Capital, Clarendon Fund Managers and Wharton Asset Management.