CryptoMetrics Secures $12 Million in Private International Financing to Support Business Growth and R&D in Biometric Technology
TUCKAHOE, NY, November 27, 2006 -
CryptoMetrics, a leading global provider of facial recognition and fingerprint biometric solutions to the government and commercial markets, today announced that it has raised $12 million in funding through convertible financing as the result of a second capital infusion into the biometrics solutions company from a prominent international investor.
This funding, the latest in a series of private placement rounds of financing, will be used to further expand operations in support of recent new overseas contracts and to support the company’s aggressive R&D activities in biometric technologies.
Robert Barra, Co-CEO of CryptoMetrics, stated, “It is gratifying to know that our progress and success to date have given our key investors the confidence to provide ongoing financial support. This financing will help CryptoMetrics continue to build its infrastructure and keep pace with new contracts as well as to enhance our strategic market position through innovative new technologies and potential acquisitions. CryptoMetrics is well positioned as a leading provider of state-of-the-art biometric solutions for critical infrastructure and key asset protection.”
About CryptoMetrics
Established in 2000, CryptoMetrics is a leading provider of biometric solutions, building and integrating state-of-the-art systems designed to proactively protect the critical infrastructure of a nation and its businesses, including vital cyber assets. As part of its portfolio, CryptoMetrics offers an extensive bi-modal array of biometric devices, software and customized services including both fingerprint and facial recognition technologies.While CryptoMetrics’ fingerprint authentication product solutions secure the transfer of and protect logical and physical points of access to critical systems and data, the Company’s facial recognition products are designed to secure national borders, protect the traveling public, strengthen the security of travel and ID document issuance through comprehensive "identity management” and enhance personal identification in support of law enforcement, homeland security and first responder activities.
Contact:
James McCusker
Integrated Corporate Relations
(203) 682-8245
jmccusker@icrinc.com
