NY-based ID R&D ropes in $5.7m in Series A

BFSI News

NY-based-ID-RD-ropes-in-5.7m-in-Series-A NY-based ID R&D ropes in $5.7m in Series AID R&D, a New York, NY-based biometrics technology provider, as per recent reports, has just closed a Series A funding round, raising $5.7 million in investment funding. The recent Series A was led by ID R&D’s new investor, GSR Ventures, and was participated by existing investor, Gagarin Capital.

The NY-based ID R&D plans on utilizing this recent investment to meet the increasing demand for its artificial intelligence (AI) based voice and behavioral solutions, along with voice and face anti-spoofing technologies. Furthermore, the biometrics company plans on hiring new professionals to add to its highly skilled engineering staff and drive the international sales process.

“What we’ve consistently heard from our customers is that ID R&D’s technologies and solutions stand alone in offering a vastly simplified user experience that doesn’t sacrifice the security of authentication,” states ID R&D CEO, Alexey Khitrov.

The company understands the need of conversational interface (CI) for businesses that basically revamps the authentication process by replacing the conventional password followed by security question authentication with something that’s much agile and simpler, i.e. a voice or facial recognition solutions that require little or nil user involvement.

Adding further, Khitrov says, “With Grand View Research forecasting the speech and voice recognition market size to reach nearly $32 billion by 2025, businesses are racing to keep up with the demand for authentication that works across multiple platforms and is as convenient as it is secure.”