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TeleSoft recognises Validity Sensors potential by leading $20m financing

18 Oct 2012

TeleSoft Partners has led a $20m financing round for ID authentication business Validity Sensors alongside a bevy of fellow venture firms.

Crosslink Capital, Panorama Capital, Qualcomm Ventures and Venture Tech Associates all took part in the Series E round, which hit a $10m first close at the beginning of October.

The financing follows Validity’s recent work on its latest fingerprint sensor for smartphones and tablet computers, and the acquisition of its biggest competitor earlier this month.

Telesoft Partners’ amazingly-titled ‘Chief Believer’ Arjun Gupta said, “As the lead investor in Validity we are delighted to see confirmation of the value of fingerprint sensors in the evolving mobile device marketplace.

“Not only will the technology significantly improve the security for mobile devices and mobile ecommerce, it also enables individually customized ecommerce services and finger specific user interface opportunities.”

Validity said it would use the funding to accelerate the development of core technologies and other Natural ID products targeted at mobile payments end markets and applications.

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