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Paravision, a U.S.-based leader in mission-critical face recognition and computer vision, today announced that it has raised $23 million in its latest funding round led by J2 Ventures, with participation from HID Global, Marlinspike Capital, Atomic, Icon Ventures, Perot Jain, Red Cell Partners, and other investors.
This round of investment reflects Paravision’s emergence as the technology partner of choice in a rapidly expanding space. Driven by the need for fast, accurate, touchless, and frictionless identity, the global market for face recognition is accelerating across a wide range of applications including enterprise security, consumer identity verification, government services, travel, and payments.
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.