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August 21, 2014

Eyeball selfie creator raises $6m in funding

The company’s technology helps secure banking transactions using mobile devices.

By CBR Staff Writer

EyeVerify, creator of eye detection ID verification technology developer has raised $6m in series A equity funding from Chinese company Qihoo 360, Sprint, and Wells Fargo.

The company plans to use the funding to speed up adoption of its Eyeprint ID biometric technology through key channel markets which includes mobile security, telecoms, financial services, healthcare and government.

EyeVerify lets users hold their smartphone about 8 inches from their faces and take picture of their eyeball.

By matching the blood vessels within the white portion of the eye, the technology allows users to unlock their bank account.

The new technology popularly known as eyeball selfie, eliminates the security threats involving stolen password and ID theft faced by users and banking services.

EyeVerify is the first participant in the Wells Fargo Startup Accelerator programme which helps startups with innovative technology to shape future customer experiences in financial services.

EyeVerify founder Toby Rush said: "We are fortunate to have a breakthrough technology that delivers a simple, secure, and private solution that eliminates password pain and password security risk, addressing a massive and escalating market need."

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