Date: May 22, 2013 Author: Bill Flook Source: bizjournals (
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Bill Flook
Staff Reporter-
Chantilly-based Digital Signal Corp., a company whose facial-recognition technology has drawn comparisons to the sci-fi film "Minority Report," has landed $50 million in funding from Saudi Arabia-based Technology Control Company, according to a news release.
The company, more than a decade old, has now raised almost $100 million in total funding, including a $10 million raise last year from a group of investors that included Novak Biddle Venture Partners and Columbia Capital. That figure could climb if Technology Control, a Riyadh-based tech consulting firm, exercises an option to add another $60 million to the latest funding round.
The new cash will pay for a new international office in Geneva, as well as boost sales, marketing, distribution and manufacturing, according to the release. DSC sells its biometric-based security technology to both commercial and government clients.
The company did not immediately return a call for comment.
