CHARLOTTESVILLE, VA - Privaris Inc., a Charlottesville-VA-based company that makes biometric ID products, has closed on $3.17 million million in debt, according to a regulatory filing.
Privaris raised $2.67 million in debt in June, $2 million in November 2009, and a $15.7 million A round in 2005.
The company’s institutional investors include 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.
In the filing with the US Securities and Exchange Commission disclosing the financing, principals cited include: Brian Carney and Wayne Hunter, Richmond-based Harbert Venture Partners and Edward McCarthy of Raleigh-based River Cities Capital Funds.
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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