EyeVerify Announces Closing of $1.4 Million Seed Round

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EyeVerify reaches milestones with new capital, strategic hires and IP strategy.

EyeVerify
We have got the team, technology and capital to bring to market a biometric authentication solution that delivers fingerprint level accuracy from the device you never leave home without. This is a game changer for mobile biometrics.

EyeVerify, an Eye Vein Biometrics software company, announces the closing of a $1.4 million seed round. The company’s patented technology images and pattern matches the blood vessels in the whites of the eye to uniquely identify users. Think Big Ventures, a Kansas City based venture fund, led the round.

“We have got the team, technology and capital to bring to market a biometric authentication solution that delivers fingerprint level accuracy from the device you never leave home without. This is a game changer for mobile biometrics,” said Toby Rush, CEO & Founder of EyeVerify.

“Toby has assembled an all star team to address a large and growing pain in the market place. Today’s users want to live life on and through their mobile devices. They need a way to do that securely, but also conveniently. EyeVerify does that with a simple picture of the eye instead of a burdensome password,” remarked Herb Sih, Managing Partner of Think Big Ventures.

EyeVerify has made two strategic hires in Jeremy Paben as Vice President of Engineering and Dr. Reza Derakshsani as Chief Science Officer. The company currently has 10 staff focused on building out the platform. Early use cases include mobile and non-mobile scenarios.

The core concept of eye vein biometrics is patented (U.S. Patent No. 7,327,860), and EyeVerify has an exclusive license to this patent. EyeVerify has engaged with Fish & Richardson P.C.’s Silicon Valley office to further build out its intellectual property position in this new and broad field of biometrics.

EyeVerify will execute a number of strategic pilots starting this fall with a full commercial launch in early 2013.

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