We're pleased to announce we have secured £4m in a new funding round.
The funding will support us in partnering with some of the world’s top motoring manufacturers, global wearable and fitness tracker technology firms, and leading semiconductor manufacturers, to embed HeartKey® into multiple everyday technologies and wearables.
This second round of investment comes from a syndicate of some of the UK and Ireland’s leading investors including Accelerated Digital Ventures (ADV) and Kernel Capital, manager of the Bank of Ireland Kernel Capital Growth Funds, both of which supported have supported us previously.
Our HeartKey® technology combines unique user identification with advanced physiological monitoring for health and wellness purposes, including medical grade heart rate, stress and fatigue monitoring, which can be applied to everyday situations such as driving a car, or for real-time health monitoring in the home.
This latest funding round will be used to further partnerships with leading technology companies and manufacturers, building on the success of our existing partnerships with companies including Cypress Semiconductor and NXP Semiconductors.
We will also be expanding our team, which has grown from five to 35 in a year, by at least another ten by the end of 2019, as well as expanding to a new base in San Francisco.
B-Secur CEO Alan Foreman:
"Securing further investment at this critical stage recognises our rapid development over the past 18 months and the market relevance of B-Secur's technology," he said.
"Most importantly, it's a strong indicator of B-Secur's growth potential on a global scale."
"HeartKey® algorithms offer data protection for devices and vehicles. It also offers the added benefit of providing insights into an individual's physical wellbeing, which enables a wide range of life-enhancing or potentially life-saving benefits.
"We're at a really exciting stage for the business, we have forged very significant links with big name partners who recognise our technology's value and importance to their own product development and this investment will allow us to continue driving our ambitions for B-Secur forward."
Tong Gu, investment lead at investors ADV, said:
"When everyday wearables become medical grade devices, the importance of assuring who can access sensitive information is of the greatest importance.
"B-Secur's HeartKey® software enables any OEM (original equipment manufacturer) to achieve near medical grade heart monitoring and tracking capability coupled with unique authentication.
"We're backing B-Secur for the second time because we truly believe in the product vision and the team."
Kernel Capital partner Jayne Brady added:
"Since our first investment with B-Secur we have been impressed by the drive and determination of the management team and their highly skilled technical experts who have worked hard to elevate this technology and to pair it with partners and applications which we believe will change how we live and work.
"They are at an exciting stage and we are very proud to support them in taking their vision forward on a global scale."