Digital Signal And Scanbuy Raise New Funding

Gail Chiasson, North American Editor

Chantilly, Virgina-based Digital Signal, a developer of 3D long-range facial recognition technology, has raised $15 million in a third round of venture capital financing, led by Columbia Capital.

New investors are City Light Capital and SilverHaze Partners, while previous backers Novak Biddle Venture Partners and Paladin Capital Group also participated.

Management of Digital Signal, in business since 2001, says its technology can mainly be used to detect criminal and/or terrorist activity, as well as to identify important customers or frequent travelers.

New York-based Scanbuy, a mobile barcode technology company, has raised $5 million from Motorola Solutions Venture Capital, Hudson Ventures and current private investors.

To date, Scanbuy has raised a total of approximately $26.5 million. The company’s key offering is the ScanLife mobile app, now loaded on more than 35 million devices and generating millions of 2D and 1D barcode scans each month. The average active user scans three-to-five times a month.

Scanbuy has partnerships with such major brands as Home Depot and Miller/Coors, and also has expanded internationally into France, Mexico and the U.K.

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