The capital raised is being deployed to further develop innovative voice biometrics to securely unlocking mobile apps – as secure as your fingerprint.
Mobile Security is a pre-revenue biometric security software business with an experienced management team moving into a high-tech market. The company had over 10 year’s experience in voice recognition software development and wanted to diversify into the world of smart applications.
Voice biometrics is as secure as your fingerprint and often more convenient. The technology has huge implications for securely locking and unlocking applications on mobile devices. Mobile Security’s product is the world’s first fully developed and fully featured mobile application of its type. The owner required £200,000 to fund marketing, further development of the white label version and complete the Apple Store version.
Mobile Security approached us when they could not achieve funding through their bank. We knew this would be a perfect opportunity for a joint venture fund raising exercise with our partner network. We successfully raised all the capital required as B&Y Associate, Mark Greenwood, explains,
“We prepared our client and after the presentation we found both sponsors and interested investors. Our client raised £200,000 from a pool of investors and found a well-connected non-executive to join their board with experience of marketing high-tech products. Our client is now about to launch their product with not only the support of new money, but also a valuable resource of experience to guide them as they grow.”
