AUSTIN, Texas —HID Global, a leader in trusted identity solutions, announces it has invested in Paravision, a leading provider of advanced facial recognition solutions.
The investment aligns with HID Global’s strategic direction to embed facial recognition into solutions for a seamless and highly secure user experience in a variety of identity verification and authentication applications, including access control, according to the company.
“In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration across a number of different markets and use cases,” says Björn Lidefelt, executive vice president and head of HID Global.
The strategic investment is said to accelerate the development of HID’s biometric solutions that leverage facial recognition algorithms that Paravision has proven through many successful deployments with high-profile customers.
“We are excited to receive this financial investment from HID Global and to embark on mutual growth opportunities,” says Doug Aley, CEO of Paravision. “We look forward to working together in pursuit of new business, channel, sales and market opportunities.”
HID’s investment is part of a $23 million funding round for Paravision, according to an announcement.
Paravision’s computer vision software is utilized globally by security device manufacturers, solution providers, systems integrators and financial services firms to deliver frictionless experiences and comprehensive safety and security.
The company says it is the only American company to rank in the top 10 in over 50 accuracy benchmarks across the 1:1 and 1:N NIST Face Recognition Vendor Tests, including top 3 global performance on many demanding at-scale requirements.
