Veridium, a Quincy, Mass.-based leader in authentication solutions using biometrics instead of passwords and tokens, closed its Series B funding round of $16.5m.
The round was led by Michael Spencer, with participation from Citrix Systems and Michael Powell. Michael Spencer, who is the Group Chief Executive Officer of NEX Group, which is in the process of being acquired by CME Group for $5.5 billion, will be joining Veridium’s board of directors along with Michael Powell and Citrix.
The company intends to use the funds to accelerate development of biometric authentication technology and to scale its sales and marketing infrastructure across the Americas, Europe and Asia.
Led by James Stickland, CEO, Veridium provides a software-only biometrics platform that allows users to replace passwords, tokens, OTPs or swipe cards with multiple biometrics from their smart phone, including: native device sensors such as face and fingerprint, and Veridium’s 4 Fingers TouchlessID.
Currently, the company has customers across the globe spanning multiple industries.
The company has offices in the U.S., U.K. and Romania.