AuthenTec Raises Additional $2.9 Million in Series C Funding Totaling $15 Million.Business Editors/High-Tech Writers MELBOURNE, Fla.--(BUSINESS WIRE)--April 15, 2003 AuthenTec, Inc., the leader in advanced biometric fingerprint sensors, today announced the Company has raised an additional $2.9 million in its second close of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , bringing its total Series C funding to $15 million. The additional $2.9 million financing was raised with first time investors Newlight Associates and Firsthand Capital Management, Inc., as well as from private investors. "We anticipate significant growth within the biometrics sector and have strong confidence in AuthenTec because of its solid management team and proven products," said Dr. Robert Brill, Managing Partner, Newlight Associates. "Our investment in the Company will make an excellent addition to our portfolio while further solidifying AuthenTec's position as the category leader in the fingerprint space." The Company recently closed $12.1 million in the first close of third-round financing, led by Menlo Park-based Sierra Ventures and including Harris Venture First, Knickerbocker LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Advantage Capital Partners and Stonehenge Capital Corporation. Used to replace PINs, passwords, physical access cards and keys, AuthenTec's silicon-based sensors provide the most convenient and reliable fingerprint security solutions available today for the PC, wireless, access control and automotive markets. The sensors utilize the company's patented TruePrint(TM) technology, which allows fingerprints to be read below the surface of the skin to the live layer -- or true fingerprint. As such, TruePrint is not affected by common skin surface conditions including dry, worn, callused, dirty or oily skin that can affect the sensor's ability to acquire accurate fingerprint images for user authentication See authentication. purposes. Uniquely, TruePrint is the only fingerprint sensor technology capable of acquiring anyone's fingerprint under virtually any condition. "We are extremely pleased to have secured new venture capital funding in this challenging economic climate," said Scott Moody, co-founder & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , AuthenTec. "We believe this cumulative financing demonstrates the investment community's confidence in AuthenTec's ability to further extend its biometric market leadership and the ultimate opportunity of the market itself." About AuthenTec, Inc. AuthenTec is a leading semiconductor company providing advanced biometric fingerprint sensors to the PC, wireless, PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). , access control and automotive markets. AuthenTec's FingerLoc and EntrePad product families utilize the company's patented TruePrint(TM) technology, the first technology capable of imaging everyone under virtually any condition. AuthenTec's award-winning products are the choice of leading industry hardware and software providers, ensuring compatibility across multiple platforms Refers to two or more operating environments, which typically include the CPU family and operating system. For example, if versions of a program run on Windows and the Macintosh, the software is said to support multiple platforms. and applications. Based in Melbourne, Florida Melbourne is a city in Brevard County, Florida, United States. As of the 2000 census, the city had a total population of 71,382. As of 2005, the population estimated by the U.S. Census Bureau is 76,646. , AuthenTec's global network of partners, solution providers and customers include Texas Instruments, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Targus, Delphi, Samsung, Acer, Synaptics, Asus, Harris Corporation and SCM (1) (Software Configuration Management, Source Code Management) See configuration management. (2) See supply chain management. Microsystems. For more information about AuthenTec, visit http://www.authentec.com All trademarks or registered trademarks are the property of the respective holders. |
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