11th  December, 2007

VoiceVault closes $2m investment funding round

Business appoints new leadership to help leverage enormous demand
for voice biometrics in key market sectors

London,11th December 2007 - Biometric Security Limited, the company behind the VoiceVault voice based biometric identity verification system has announced that it has secured an additional $2 million (£1 million) investment capital from Eden Ventures LLP.

Over the past 12 months Biometric Security has made significant progress winning new customers including Assistmed - a service provider to the US health care industry; VoicePay - a web and mobile payments operator; and Allied Irish Banks Group along with securing trials with other major retail banking institutions. Existing customers such as Progressive Insurance have also extended their VoiceVault secured service deployments into new areas and are reaping the rewards of this enhanced solution.

The additional investment announced today enables Biometric Security to build on its existing success in the market through the growth and development of its sales and marketing activities in Europe and the USA.

In addition to the investment, Biometric Security is also announcing the appointment of Martyn Eley as CEO. Martyn joins Biometric Security from business integration software developer webMethods where he was Senior Vice President and General Manager for EMEA.

"We've seen VoiceVault achieve a leadership position in the voice biometrics market place over the past 12 months thanks to focused sales, marketing and business development activity. The company is now in an unparalleled position to exploit rapidly growing demand for such technology in key markets like financial services and governments. Our additional investment in the business is designed to ensure that the business can take full advantage of its market leading position," said Mark Farmer, Partner Eden Ventures LLP.

David Chislett of Chiimu Partnership LLP added: "We're proud of what has been achieved at Biometric Security in the last two years. We believe that given the businesses success in acquiring new customers and the rising number of important trials taking place, now is the right time to propel the company into a new phase of its development. The appointment of a new CEO will give the business the added boost it needs to maintain and build on its leadership position in voice biometrics. The Chiimu Partnership looks forward to continuing to support the business as one of its key investors."

About VoiceVault

VoiceVault is a specialist and leader in the provision of voice-based biometric identity verification solutions and services. With operations in the United States, United Kingdom and Ireland, the company has a global customer base of public and private organizations, such as government agencies, banks and insurers.

VoiceVault is the only voice verification service certified and accredited to issue Advanced Electronic Signatures (voice digital certificates) and to be ISO 27001 rated.

VoiceVault provides a more convenient, practical and secure alternative to PINs, passwords or security tokens. As well as verifying an individual's identity over the phone or the Internet, VoiceVault can be employed across a diverse range of business applications, including procurement, payment authorization and corporate security. Organizations that deploy VoiceVault can deliver enhanced levels of service to their customers, increase security while optimizing identity verification costs. 

For more information visit www.voicevault.com or contact:

Jonathan Brayshaw

Associate Director

Weber Shandwick Worldwide

+44 (0) 207 067 0523

Laura Woodward

Weber Shandwick UK

+44 7894 193 887

lwoodward@webershandwick.com  

About Eden Ventures LLP

The Eden Ventures' team consists of successful entrepreneurs complemented by investment professionals. Their blend of knowledge and experience covers strategic sales, marketing, finance and operations skills, M & A transactions and institutional fund management.

For more information visit www.edenventures.co.uk

Chiimu Partnership LLP

The Chiimu Partnership provide funding and strategic advice to post revenue early stage businesses and has been an investor in Biometric Security since its creation in 2005.