CHANTILLY, VA--(Marketwire - Apr 20, 2011) - Digital Signal Corporation (DSC), the world leader in three dimensional (3D) long-range facial recognition solutions for government and commercial clients, announced today that it secured $15 million in Series C financing. Columbia Capital led the round with new investors City Light Capital and SilverHaze Partners. Early investors Novak Biddle Venture Partners and Paladin Capital Group also participated in the round.
Digital Signal's 3D facial recognition technology helps make the world safer for both commercial and government customers by precisely identifying and monitoring moving non cooperative subjects at long range. Primarily used to detect criminal and or terrorist activity, the solutions can also be used to identify important customers, friendly soldiers, or frequent travelers. The capital raised enables DSC to increase infrastructure, including manufacturing, to meet market demands.
"The increased demand for Digital Signal's proven technology underscores its importance to the government and commercial sectors. Led by an experienced management team and backed by quality investors, DSC is poised to continue its upward trajectory. Emerging companies like DSC are the drivers of innovation and we are excited about joining such a dedicated team," said Jim Fleming, Columbia Capital partner and Digital Signal board member.
"DSC's three dimensional biometric system provides a revolutionary tool across several industries, thus helping to protect our rapidly evolving and inter-connecting society. Given our focus on investing in breakthrough products and services that contribute to safe neighborhoods, workplaces, and networks, we see tremendous value in DSC's offering," said Tom Groos, City Light Capital partner and Digital Signal board member.
"In an increasingly uncertain world, leaders in the security industry are constantly seeking the most effective, state-of-the-art systems to support their objectives, whether it be clearly identifying known terrorists at an airport or tracking down a repeat shoplifter or member of an organized crime family," said David Guttadauro , CEO, Digital Signal. "We are pleased to have Novak Biddle's and Paladin Capital's continued support and we're looking forward to the additional insights to come from Columbia, City Light, and SilverHaze."
Founders Richard Sebastian and Ed Hart, along with Roger Novak of Novak Biddle Venture Partners, remain on the DSC board of directors. Joining the board are Jim Fleming, Columbia Capital; Tom Groos, City Light Capital; and Zeid Masri, SilverHaze Partners; and President and CEO David Guttadauro.
About Digital Signal Corporation
Digital Signal Corporation (DSC) is the world leader in three dimensional (3D) long-range facial recognition solutions for government and commercial clients. We make the world safer thru certainty. Founded in 2001, DSC is located in Chantilly, VA. For more information, visit www.digitalsignalcorp.com.