WISeKey announced it closed the second of its three-tranche $110 million pre-IPO financing round announced last year (goo.gl/qOPsC). The $35 million second-tranche includes $12 million raised over 15 months from new and current qualified investors. The third and final-tranche will start December 2011, with 12 million shares at an intended price of $6.00 per share. The Company value of $360 million increased from its $200 million valuation set during the April 2010 first-tranche fundraising round.
WISeKey intends the proceeds to advance deployment of its Digital Brand Protection technology WISeAuthentic (http://www.wiseauthentic.com/) and WISeID Personal Data Protector, the mobile app using encryption technology to store private information (http://www.wiseid.com/). WISeID and its website can encrypt messages, allowing privacy over communication services, even Facebook. WISeKey is also responding to demand for WISePhone (http://www.wisephoneplus.com/), which enables smartphones to make encrypted voice calls within closed groups.
"We're thrilled to have world-class investors joining forces with us to help move to the next stage building a company that hundreds of millions of people around the world love and trust,” said Carlos Moreira, Founder and CEO, WISeKey."
WISeKey technologies are receiving interest from luxury brands and mobile communities to help protect people, products, and information as participation on the web increases risk of personal data theft. This year, WISeKey concluded contracts with leading brands Hublot, Dior (WISeAuthentic), and FC Real Madrid (WISeID), which together more than double the Company’s revenue.
Last month, WISeKey signed an agreement with SIX Securities Services, the post-trade securities infrastructure for Switzerland, operating in almost 65 markets globally. (goo.gl/CcnAT). SIX Securities Services provide WISeKey with clearing settlement, custody, and asset servicing (SIX SIS Ltd) and domestic share registration (SIX SAG Ltd).