A Belfast-based biometrics company has announced ambitious plans to achieve a $1 billion valuation.
The firm will soon relocate to a larger office and aims to expand its team and presence internationally.
Relocation and Expansion
The biometrics developer has revealed that it will move to a larger space at the Catalyst Inc. business hub next month. This relocation marks a significant milestone for the company, which also plans to recruit an additional 10 employees in the coming year.
According to the company’s chief executive, Alan Foreman, the San Francisco office will be established within this year. This strategic move is intended to foster closer connections with potential clients and partners in the tech-centric region.
Pioneering Heart-Monitoring Technology
The firm’s innovative heart-monitoring technology has drawn interest from global car manufacturers. By detecting the unique heartbeat of a user, the technology offers a new method of biometric identification that differs from traditional iris or fingerprint scanning.
Foreman emphasized the potential applications of the technology in various sectors. ‘By simply touching your steering wheel, or through the watch or T-shirt you are wearing, we can see in real time and detect how well you are,’ he noted. The implications for healthcare and driving safety could be substantial.
New Product Launch: Heartkey
Earlier this year, the company launched its latest product, Heartkey, at the Consumer Electronics Show 2019. Heartkey uses heart-monitoring technology to identify individuals based on their unique cardiac patterns.
The launch was met with considerable interest as it offers a secure and non-invasive way of verifying identity. The system’s ability to monitor health metrics in real-time also provides valuable data for users.
The biometrics firm is optimistic that Heartkey will set a new standard in the industry, combining security with health monitoring benefits.
Implications for the NHS and Drivers
Foreman highlighted the significant implications the technology could have for the National Health Service (NHS) and drivers. Real-time health data could assist in early diagnosis and treatment, potentially easing the strain on healthcare services.
The technology’s application in vehicles is another exciting prospect. By monitoring the driver’s health while driving, it could potentially prevent accidents caused by sudden health issues.
The Journey Towards Unicorn Status
To achieve unicorn status, the company recognizes the importance of continuous innovation and strategic partnerships. The expansion to the United States is a part of this strategy, aimed at accessing a broader market and additional resources.
The company’s vision is clear: to become a leader in biometric technology, providing solutions that are both secure and beneficial to users’ health.
By continuing to push the boundaries of biometric technology, this ambitious developer is well on its way to becoming Northern Ireland’s first unicorn.
With strategic expansions and innovative products, the company is poised to make a significant impact on both healthcare and security sectors.