A4Vision Raises $12.8 M in Venture Capital Investment
3D Biometrics Breakthrough Establishes Future for Facial Authentication in Government and Commercial Applications
New Investor Menlo Ventures Leads Series B Round
Sep 20, 2004 - A4Vision Inc, global leader in advanced identification software and 3D facial imaging products and technology, today announced it has secured an additional $12.8 Million from new venture capital investor Menlo Ventures together with EuroQube, Logitech, Hanna Ventures and Sunrise Capital Fund, bringing total investment in the company to $18.5 Million.
New funding prepares A4Vision to address global market demands for facial biometrics authentication and verification in government, civil and commercial applications. The company will focus on Sales and Marketing and Customer Service at this time.
New investment was spurred by A4Vision’s success in bringing 3D biometric technology to market, having introduced and delivered the first 3D biometric access control and identification products for which Frost & Sullivan named A4Vision biometric product of the year, which is announced separately today. In addition, the US Department of Defense designated A4Vision to develop 3D biometrics for government applications.
“A4Vision is the only company we see poised and ready for the imminent global demand for 3D biometrics in government, healthcare, and IT applications,” said Doug Carlisle, Managing Director at Menlo Ventures. “A4Vision alone has made facial biometrics authentication and verification credible in only two years. With technical, product, and partnership leadership A4Vision is one of Silicon Valley’s most exciting investments.”
“ Menlo Ventures adds another world class investor and board member to A4Vision. Their years of investment experience, practical thought process and prudent business experience of building a company will be invaluable to A4Vision’s future,” said A4Vision CEO Grant Evans. “The recent funding positions A4Vision to expand global sales and marketing and enlarge the many alliances we’ve established for global advancement and development of 3D imaging security solutions. Our alliances with the world’s governments and commercial customers promise a very bright future with the company’s breakthroughs in 3D technology.”
Analyst sources agree that biometrics markets are dramatically expanding. The International Biometric Group expects growth of $4 billion by the end of 2007. IDC pegs the market at $887 million in 2005, while Frost & Sullivan projects $2.05 billion by 2006.
A4Vision has been shipping 3D biometric products for access control, secure authentication and verification and database enrollment, since October 2003. More information is available and products may be ordered at http://www.a4vision.com
A4Vision (Applications for Vision) develops and licenses advanced identification systems and tracking solutions using 3D facial imaging and recognition technology. 4Vision is headquartered in California (USA) with offices in Geneva(Switzerland) and Moscow (Russia).
840 West California Ave
Sunnyvale, CA 94086
fax: 408 746 3700