US-based identity verification technology provider Clear secured $100m on Wednesday from investors including the National Football League (NFL), restaurant owner Union Square Hospitality Group and media group Liberty Media.
The round included Partnership Fund for New York City, LionTree Partners, Bond, Durable Capital Partners, General Atlantic, Revolution Growth, private investor Jim Murren, Michael Jordan’s family office and Stephen Cloobeck’s Safely LV vehicle.
The NFL participated in the round through its investment arm, 32 Equity, while Union Square Hospitality Group invested through its growth equity subsidiary, Enlightened Hospitality Investments.
Clear’s biometric security services enable airline passengers to be screened quickly and efficiently through airport terminal security, through the use of fingerprint and eye scanning technology. Its technology has also been used for sporting events and car rental services.
The company’s technology was initially developed by a company called Verified Identity Pass which went into administration in 2009. Holding company Alclear then acquired Clear’s technology for $5.9m in 2010 and used it to establish a new company that year.
Clear has more than 5 million users and operations in more than 55 locations across the United States.
The funding will go towards expanding Clear’s business beyond the aviation sector, through strategic investments and corporate development activities. It will also be used to support the company’s recruitment, technology development and new customer adoption.
Funds and accounts advised by investment manager T Rowe Price led a $20m round for Clear in 2015 that also featured Sterling VC and angel investors e Jeffery H Boyd, Robert Mylod and Bill Miller. Airline operator Delta Air invested an undisclosed amount the following year in exchange for a 5% stake.
T Rowe Price supplied $15m of funding for the company in 2017, before joining Revolution Growth to invest an undisclosed amount in January 2019. Aviation company United Airlines provided an undisclosed amount for Clear six months later.