AuthenTec Inc., Melbourne, Fla., a start-up designer of fingerprint authentication integrated circuits, said today that it has secured $20 million in Series B financing led by a $5 million investment by Texas Instruments Inc.
All of AuthenTec's previous investors participated in this second financing round, with major contributions by Harris Venture First, Knickerbocker LLC, Advantage Capital, and the China Development Bank. Also participating was Stonehenge Capital, Bencas Capital and the Royal Bank of Canada.
This new series brings the total investment of venture based financing in AuthenTec to over $35 million since its founding in October, 1998.
The $20 million investment will be used for continued product development of AuthenTec's FingerLoc and EntrePad product families.
Part of this development effort includes collaboration between AuthenTec and TI to support biometric security capabilities on TI's programmable DSP-based OMAP wireless application platform, the company said.