AuthID, a provider of biometric authentication solutions, has announced the closing of a financing agreement of USD 3.6 million with long-time investor, Stephen J. Garchik.
The new financing will support AuthID’s projected working capital needs through Q1 2024. AuthID completed an initial drawdown of USD 900,000 today and will draw the remaining in future, subject to certain conditions.
Garchik has made a request to nominate four new members to the board. The current CEO, Tom Thimot, is expected to resign from his position by the beginning of April.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.