B-Secur, a Belfast-based biometric authentication company, has announced the securing of a £3.5 million (€3.9 million) investment.
The new funding comprises of £1.5 million from Accelerated Digital Ventures (ADV), £750,000 from the Bank of Ireland Kernel Capital Growth Fund (NI), with the remainder provided by private investors.
Founded in 2002, B-Secur has developed a biometric technology that uses an individual’s heartbeat pattern, known as electrocardiogram (ECG), to authenticate identity. The technology marks the next generation in biometrics, moving beyond first generation modalities of fingerprint, iris or voice.
The global ECG biometrics market which is expected to be worth $2 billion by 2021, with applications across many sectors including automotive, financial services, access control, smart cities and buildings, and healthcare.
Jayne Brady, partner, Kernel Capital, said: “B-Secur has a strong management and technical team which has developed a new high performance, patent-protected, heartbeat signature-based biometric authentication product. With Northern Ireland rapidly becoming a key location on the global cybersecurity stage, we believe B-Secur will play a significant role in the global development of next generation security systems as the company gains market share in financial services, access control and beyond.”
“This announcement underscores the growing demand from organisations to provide better security to their customers in this digital world, amid an escalation in high-profile cyber-attacks. I believe that our ECG authentication technology is crucial to supporting this global challenge,” said Alan Foreman, CEO, B-Secur.
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