Secure identity company Clear has announced a new round of financing from funds and accounts advised by global investment management firm T. Rowe Price Associates, Inc. and Revolution Growth.”CLEAR has created a powerful biometric identity platform that meets consumers increasing expectation for security and convenience, said Henry Ellenbogen, portfolio manager of T. Rowe Price New Horizons Fund. We believe CLEAR could be much a larger company. It is building a world-class company and brand and we are excited about their continued expansion in new airports, sports venues, and other verticals.Revolutions mission is to invest in and help build innovative companies that offer consumers more choice, convenience, and control in their lives, said Steve Case, Chairman and CEO of Revolution. CLEAR is using biometric technology to make life easier for people by making entry into airports and other secure venues faster and more convenient.The market for biometric technologies is expected to grow rapidly over the next few years and CLEAR is uniquely positioned to be the leader in using this technology to help consumers to access experiences beyond the airport more quickly and safely, said Ted Leonsis, Revolution Growth co-founder and partner. We believe in CLEARs vision and its ability to use its technology for several other use cases that require identity verification to grant access.CLEAR is focused on creating frictionless experiences that strike the right balance between security, privacy and convenience so people can enjoy more of what they love, said CLEAR CEO Caryn Seidman Becker. T. Rowe Price and Revolution share CLEARs belief that identity is foundational to virtually every aspect of a persons life, and that biometrics is the bridge to making those everyday experiences easier and more secure.”Over the last year, CLEAR has introduced a number of new experiences for members including:Hertz Fast Lane powered by CLEAR: Enables members to seamlessly and securely verify their identity and rental car reservation and get through the exit gate in 30 seconds or less.Major League Baseball (MLB) and Tickets.com: Enables fans to use their biometrics instead of a paper or mobile ticket to enter the ballpark. After a successful pilot in 2018, this will be available at stadiums across the country during the upcoming baseball season.Seattle Seahawks & Seattle Mariners: Enables fans at CenturyLink Field and T-Mobile Park to buy food and drinks, and prove they are of legal age for alcohol purchases, with the tap of a finger, reducing friction at another location within the venue.CLEARs biometric identity platform is certified as Qualified Anti-Terrorism Technology by the Department of Homeland Security (DHS) and complies with National Institute of Standards and Technology (NIST) standards. The company has also been awarded numerous patents by the United States Patent and Trademark Office (USPTO), including for biometric systems and methods used to determine a persons identity and access.
CLEAR secures new funding
