CHARLOTTESVILLE, VA – Privaris Inc., which makes biometric ID products, has closed on just over $2 million in a mixed offering that converted $1.58 million of existing promissory notes to new ones and included $500,000 in cash, according to a regulatory filing.

The company previously raised about $18.2 million in venture backing from institutional investors including Harbert Venture Partners, Noro-Moseley Partners, River Cities Capital Funds, RedShift Ventures, and SpaceVest Capital. It was funded by private individuals prior to its first round in 2005.

The company disclosed the current raise in a filing with the U.S. Securities and Exchange Commission.
Founded in 2001, the company has patented technology.

The core Privaris product is a patented, wireless, keychain device that uses fingerprint-based biometrics to authenticate its user prior to releasing the information needed to perform a transaction.

The products work with existing physical and IT security infrastructure to authenticate the identity of an individual prior to that individual being granted access to facilities, IT resources, services and transactions.

The fingerprint data is stored and processed only on the device and is never released so as to protect an individual’s personal privacy.

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