International. HID Global announced the investment in Paravision, a provider of facial recognition solutions.
The company explained in a statement that this investment aligns with its strategic direction of integrating facial recognition into solutions in a variety of authentication and identity verification applications, including access control.
"In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration in several different markets and use cases," said Björn Lidefelt, Executive Vice President and Head of HID Global.
The strategic investment will accelerate the development of HID's biometric solutions that leverage facial recognition algorithms that Paravision has tested through many successful implementations with high-profile customers.
"We are excited to receive this financial investment from HID Global and to embark on mutual growth opportunities," said Doug Aley, CEO of Paravision. "We look forward to working together in finding new business, channels, sales and market opportunities."
HID's investment is part of a $23 million funding round for Paravision.
