Card Scanning Solutions (CSSN), a Culver City, Ca-based provider of Identity Solutions software for reading data from driver licenses, medical cards, and other official documents, received an equity investment of undisclosed amount.
Backers included Insight Venture Partners, Red Oak Growth Partners, and Egis Capital Partners.
Silicon Valley Bank provided a senior credit facility to support the investment.
The company intends to use the capital to accelerate its product development efforts and expand the reach in the market.
Led by Yossi Zekri, CEO, CSSN recently launched a new version of its advanced Snapshell® image capture appliance, Snapshell® R2 and Snapshell® Passport, which – in combination with its software – processes data from any form of official identification card or document.
The company serves customers in a variety of vertical industries including healthcare, financial services, facilities/property management and education.
Following the trasaction, CSSN’s Board of Directors includes Zekri, Larry Handen, Managing Director at Insight Venture Partners, Richard Erickson, Managing Director at Red Oak Growth Partners and Chairman of the board of the company, Conor Mullett from Red Oak, Dany Hatzav (CSSN Co-founder), Dan May from Insight, and Robert Chefitz of Egis.
FinSMEs
19/06/2013