Dallas Texas — March 10, 2017
Gesture biometrics company Biometric Signature ID announces a new round of funding from an existing investor who will quadruple their initial investment. J “This growth capital will expand our marketing and sales teams and add additional infrastructure,” said Jeff Maynard, CEO of Biometric Signature ID. “BSI had its most successful year ever and is at the next major inflection point for growth.”
BSI is the market leader in higher education which uses its solutions to authenticate student identities with high biometric accuracy. The company is rapidly expanding and winning new business in healthcare, financial services, enterprise and mobile. The new funding will be used to develop new products like BioProof-ID™, which authenticates real world identity and links it to a biometric, and BioTect-ID™ which provides device and mobile security, whether online or off.
The demand for new cybersecurity tools and methods of multi-factor authentication continues to mushroom, especially as more companies move operations to the cloud. BioSig-ID is a gesture biometric and unlike physical biometrics can be revoked or replaced and is ideally suited for cloud environments. Privacy and liability continue to be major barriers to the uptake of physical biometrics. “You can’t grow new fingerprints or your face so they are irreplaceable. Once compromised the liability is much higher versus a gesture biometric that collects only a behavior. The ability to be reset is a major competitive advantage,” says Jeff Maynard CEO.
BioSig-ID has over 10M uses from users in 94 countries who have enrolled and validated their identity using their biometric password at log in. Instead of typing in a password, users draw their password on a drawing screen that appears before they can access a virtual asset or device. Using this 5 second validation, users and companies have the assurance that only the rightful owner can access their device, bank account, exam or any online activity.