HID Global Invests in Paravision, a Leading Provider of Facial Recognition and Computer Vision Technology | Financial Buzz

HID Global Invests in Paravision, a Leading Provider of Facial Recognition and Computer Vision Technology

HID Global, a worldwide leader in trusted identity solutions, has invested in Paravision, a leading provider of advanced facial recognition solutions and recognized for its world-class leadership in accuracy.

The investment aligns with HID Global’s strategic direction to embed facial recognition into solutions for a seamless and highly secure user experience in a variety of identity verification and authentication applications, including access control.

“In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration across a number of different markets and use cases,” said Björn Lidefelt, EVP and Head of HID Global.

The strategic investment will accelerate the development of HID’s biometric solutions that leverage facial recognition algorithms that Paravision has proven through many successful deployments with high-profile customers.

“We are excited to receive this financial investment from HID Global and to embark on mutual growth opportunities,” said Doug Aley, CEO of Paravision. “We look forward to working together in pursuit of new business, channel, sales and market opportunities.”

HID’s investment is part of a $23 million funding round for Paravision.

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About HID Global

HID Global powers the trusted identities of the world’s people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people around the world use HID products and services to navigate their everyday lives, and billions of things are connected through HID technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet.

Headquartered in Austin, Texas, HID Global has over 4,000 employees worldwide and operates international offices that support more than 100 countries. HID Global is an ASSA ABLOY Group brand. For more information, visit www.hidglobal.com.

About Paravision

Powered by AI and leveraging the latest advances in deep learning, Paravision’s industry-leading computer vision software is trusted globally by security device manufacturers, solution providers, systems integrators, and financial services firms to deliver frictionless experiences and comprehensive safety and security. From the latest in Edge AI platforms to cloud-ready solutions, Paravision powers computer vision-centric solutions with modular, highly scalable toolsets that deliver breakthrough capabilities in the most challenging conditions.

Paravision has developed deep expertise in face recognition specifically, and strives to consistently raise the bar for face recognition technology in accuracy, security, inclusion, and convenience. Paravision is the only American company to rank in the top 10 in over 50 accuracy benchmarks across the 1:1 and 1:N NIST Face Recognition Vendor Tests, including Top 3 global performance on many of the most demanding at-scale requirements.

© 2021 HID Global Corporation/ASSA ABLOY AB. All rights reserved. HID, HID Global, the HID Blue Brick logo and the Chain Design are trademarks or registered trademarks of HID Global, ASSA ABLOY AB, or its affiliates(s) in the US and other countries and may not be used without permission. All other trademarks, service marks, and product or service names are trademarks or registered trademarks of their respective owners.

Contacts

HID Global

Matt Winn

Senior Director, PR and Corporate Communications

mwinn@hidglobal.com

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