Focus on Market Share Leadership and Ongoing Ground-breaking Innovations in Identity Validation
San Jose, California, July 20, 2010 – Validity, Inc., a privately-held company specializing in convenient, secure and reliable identity validation solutions, announced today that it has closed an over-subscribed round of $12.6 million in Series D financing, led by a major new investor, Panorama Capital and including major existing investors – TeleSoft Partners, Crosslink Capital, Qualcomm Ventures, and VentureTech Alliance.
During the past year, Validity has continued to ramp shipments and win key designs at major notebook PC OEMs including HP and Dell, and has now established market leadership in this space. This additional funding will enable the company to continue to accelerate its unique technology roadmap and aggressively pursue new market opportunities.
“This outstanding support from top-tier investors underlines broad confidence in our unique technology, market opportunity, customer traction and the execution capability of the team,” said Rob Baxter, Chief Executive Officer at Validity. “We are delighted to have the continued endorsement of our investors and to have attracted an additional top tier investor – Panorama Capital – to support our momentum.”
“We are excited to add Validity to our portfolio as we believe the market opportunity is substantial, and combined with Validity’s innovative technology and execution, will yield significant growth in company value,” said Shankar Chandran, Principal at Panorama Capital. “We are confident that Validity will continue to build momentum and market leadership in their target markets.”
About Validity, Inc.
Headquartered in San Jose, California, Validity Sensors, Inc. develops the world’s most durable, flexible and highest performing biometric fingerprint sensor for information, communication and entertainment devices.
Validity’s biometric security products enable convenient, secure and affordable solutions for Identity Validation, including features such as password replacement, identity verification, centralized management for corporate network security, secure wireless transactions, protection of portable data, and physical access control. For more information, visit http://www.validityinc.com or follow us on
The Validity® name and logo are registered trademarks of Validity Sensors, Inc. All other trademarks are the property of their respective owners.
Prianka Chopra, 408-387-5385