Canada-based security technology developer Bionym has received $14m in a series A round that included Salesforce Ventures, the corporate venturing unit of cloud computing company Salesforce.com, and payment services firm MasterCard.
Venture capital firms Ignition Partners and Relay Ventures, and export credit agency Export Development Canada also took part in the round.
Bionym produces a wearable security device, Nymi, which provides identity authentication using a person’s cardiac rhythm. Nymi is set to be released later this year, and the capital will support the product as it is introduced to the market, as well as to hire additional staff.
Karl Martin, Bionym’s chief executive, told Reuters: “We are currently ramping up our manufacturing capabilities to support consumer, partner and developer demand.
“This funding will help us meet our manufacturing milestones, and help us build a world-class team.”
Bionym previously raised $1.4m in seed funding in August 2013 from Relay Ventures and various angel investors.