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B-Secur Announces £3.5M in Early-Stage Investment from Leading Investors

B-Secur CEO Alan Foreman and investors

We’re very proud to announce that B-Secur has secured £3.5 million in early-stage funding from a syndicate of some of the UK and Ireland’s leading investors, including Accelerated Digital Ventures (ADV) and Kernel Capital.

In a world of increasing threat to our digital identities, organisations must safeguard their customer and employees’ data and services, but also their citizens, borders and public and healthcare services.

Cybersecurity is a global challenge, and B-Secur’s technology offers a truly global solution.

This technology marks the next generation in biometrics, moving beyond first generation modalities of fingerprint, iris or voice. As an internal biometric, ECG authentication can minimise hacking or spoofing risks for greater security and convenience.

B-Secur is currently working in the UK, Ireland and US to respond to customers across many sectors including automotive, financial services, access control, smart cities and buildings, with the semiconductor industry at the core of its technology development process.

The UK’s Biggest Finance Names

The investment forms a syndicate of some of the UK’s biggest finance names, including Accelerated Digital Ventures (ADV), the investment company backed by insurance firm Legal & General, fund manager Woodford Investment Management, and British Business Bank (BBB).

Kernel Capital is the manager of the Bank of Ireland Kernel Capital Growth Funds with investors including Bank of Ireland; Invest NI and New York State Common Retirement Fund, and is the largest private sector source of equity finance for technology companies on the island of Ireland.

B-Secur CEO Alan Foreman and investors

L-R: Jane Brady, Kernel Capital Partner, Alan Foreman, B-Secur CEO, Andrew Sloane, Accelerated Digital Ventures (ADV) Investment Lead)

B-Secur CEO Alan Foreman said:

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.

We are thrilled to gain the backing of ADV, Kernel and others. This will help us to grow significantly in the next 12 months and continue to invest in world-class science and engineering in the UK and beyond, and we are proud to have the opportunity to build a truly global business solving a serious problem that each of us faces every day.

Michael Dimelow, Head of Investment for ADV said:

“In a world where security and personal identity are central to accessing a range of online digital services, B-Secur’s technology harnesses the unique power of the human heartbeat to unlock everything from finance to healthcare, from cars to buildings. ADV is excited to be supporting B-Secur as they deploy their market-leading patented software across all forms of devices including mobile and wearables.”

Learn more about ADV.

Jayne Brady, Kernel Capital Partner, 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. 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.”

Learn more about Kernel Capital.

Highlights

  • First generation biometric security is enjoying rapid adoption through fingerprint scanning, iris scanning and facial and voice recognition. Its application has proliferated in border control, building access, mobile phone access and banking applications.
  • Next generation biometrics, such as the unique electrical wave of the heartbeat (ECG), has an additional level of complexity, in that it cannot be stolen or copied and has the added benefit of “liveness detection”.
  • Industry reports indicate that the biometrics market will rise from $10Bn in 2016 to $35Bn by 2020, with ECG Biometrics playing a key part in this growth. Additionally, one of B-Secur’s key markets – the semiconductor manufacturing market – is projected to be $62 billion by 2023.
  • B-Secur has been recognised as a key disruptor in global leading market analysis by Forrester
  • B-Secur was named a Gartner Cool Vendor in the Human-Machine Interface category in 2016 and 2017
  • B-Secur currently participates in the London Stock Exchange ELITE programme, which nurtures the UK’s highest growth companies

If you would like more information on this release or for any interview enquiries, please contact us.