Clear, a NYC-based biometric identity system, raised a $20m equity financing.
The round was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investors Jeffery H. Boyd, Chairman of the Board and former Chief Executive Officer of The Priceline Group Inc., Robert Mylod, the former Chief Financial Officer of The Priceline Group Inc., Sterling VC, and existing investors Bill Miller, Chairman of LMM, the Portfolio Manager of Legg Mason Opportunity Trust Fund. Mr. Boyd joined CLEAR’s board of directors along with Lew Kling, former President and Chief Executive Officer of Flowserve Corp.
The company intends to use the funds to accelerate the growth of its secure identity platform, to further redefine and improve the customer experience across multiple channels.
Led by Caryn Seidman-Becker, co-founder and Chief Executive Officer, Clear currently provides secure entry services at 12 major airports and at three major league baseball stadiums. It operates at San Francisco, San Jose, Denver, Dallas-Fort Worth, Houston Bush, Houston Hobby, San Antonio, Austin, Orlando, Miami, Las Vegas, Baltimore-Washington, as well as at Westchester County Airport in New York, Yankee Stadium in New York, Coors Field in Denver and AT&T Park in San Francisco.
The company, which has a base of approximately 500,000 members nationwide and has been used almost two million times by travelers, is currently expanding to bring its technology to airports around the country.