Saflink’s financing follows new strategy

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Thursday, April 1, 2004

BELLEVUE, Wash. - Saflink Corp. received a significant round of financing in late February when it closed on a $9.2 million private placement of its common stock, money that will be used in its sales and marketing efforts.
The funds come at a pivotal point for Saflink, which has initiated a new strategy. The software company has been around for 12 years, but now plans to focus on an approach company officials refer to as doorway-to-desktop security solutions.

That approach aims to provide security in five segments of the market, according to Thomas Doggett, director of marketing for Saflink, and to identify users and control their access to certain systems and functions. Those markets include computer networks, physical facilities, time and attendance, application integration and manufacturing automation control.

The company’s software currently works with more than 40 authentification devices, including its own private labeled fingerprint scanning device.

The $9.2 million in financing follows the company’s acquisition of technology from BioMetric Solutions Group, a company that Saflink had worked with for the past six months on a number of different projects.

Doggett said Saflink is working towards profitability, a goal that he characterized as on the horizon.