QSecure raises $5M for card authentication
QSecure is a Los Altos, Calif. company that has devised a security measure to prevent theft of credit and debit card information.
The company’s technology centers around a tiny electronic chip embedded in the card’s magnetic strip. When the card is swiped for a transaction, the chip causes part of the strip to change, making each transaction unique.
The $5 million funding was the company’s third. Existing investors Allegis Capital, Societe Generale, UMC Capital and Worldview Technology Partners all participated, according to VentureWire (subscription required). The company has taken a total of $23 million, including the current round.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.