Dallas Texas, March 10, 2017 Biometric Signature ID announces new financing from an existing investor who will quadruple their initial investment.
Jeff Maynard, CEO of Biometric Signature ID stated this growth capital will expand our marketing and sales teams and add additional infrastructure.
BSI had it most successful year ever and is at the next major inflection point for growth. In addition to being the market leader in higher education the company is winning new business in healthcare, financial services, enterprise and mobile. New products BioProof-ID™, and new launches with BioTect-ID™, BioSafe-ID™ and BioSign-ID™ will provide much needed solutions for identity authentication before access to virtual assets or devices.
Currently BSI has over 10M uses of BioSig-ID 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 etc.
Privacy and liability continue to be major barriers to the uptake of physical biometrics. BioSig-ID is a gesture biometric and unlike physical biometrics can be revoked or replaced. 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.
About Biometric Signature ID (BSI)
BSI has created the world’s FIRST biometric password called BioSig-ID™. This patented, software-only biometric solution authenticates user identity without the need for any additional hardware. BioSig-ID secures data and devices using multi-factor authentication in one product. Using only a mouse, finger or stylus, gesture biometrics of speed, direction, length, height, width, angle are captured and stored as the user draws and creates their unique 4 letter/number password. Upon subsequent logins the software compares the password patterns entered to the template created at enrollment, for instant authentication. Only successfully authenticated users can access their virtual account, gradable event, portable device, workstation or mobile app. The software comes with a robust audit trail providing an acute forensic tool that provides real time, actionable data on identify fraud.
BSI was chosen and funded by the White House (from over 100 companies) to participate with Microsoft, AT&T, CA, AAMVA and the Virginia DMV in a pilot to reduce online identity fraud. BioSig-ID was awarded “New Product Innovation of the Year in North America,” selected as 20 Most Promising Ed Tech companies by CIO REVIEW, was independent third party tested at 99.97% accuracy, reports a 98% user satisfaction rate and has a worldwide family of users who have used BioSig-ID to protect their identity over 10M times from 94 countries.