CLEAR Secures New Funding from T. Rowe Price and Revolution Growth to Accelerate Platform and Network Expansion

Plans include launches at the nation’s busiest airports, most iconic venues, and into new verticals

NEW YORK, WEDNESDAY, JANUARY 30, 2019 CLEAR, the secure identity company using biometrics to build a frictionless and secure world, announced a new round of financing from funds and accounts advised by global investment management firm T. Rowe Price Associates, Inc. and Revolution Growth.

CLEAR is changing the way consumers experience the world by transforming the cards in their wallet into a single biometric ID. With CLEAR, you are you. After a fast, one-time enrollment, CLEAR members enjoy secure, frictionless experiences — from biometric venue access and ticketing to biometric payment and age validation — with a look, tap of a finger or blink of an eye, at airports, arenas, stadiums and beyond. The power of CLEAR’s platform is its connected network of member experiences, which has nearly doubled over the last 18 months.

“CLEAR has created a powerful biometric identity platform that meets consumers’ increasing expectation for security and convenience,” said Henry Ellenbogen, portfolio manager of T. Rowe Price New Horizons Fund. “We believe CLEAR could be much a larger company. It is building a world-class company and brand and we are excited about their continued expansion in new airports, sports venues, and other verticals.”

“Revolution’s mission is to invest in and help build innovative companies that offer consumers more choice, convenience, and control in their lives,” said Steve Case, Chairman and CEO of Revolution. “CLEAR is using biometric technology to make life easier for people by making entry into airports and other secure venues faster and more convenient.”

“The market for biometric technologies is expected to grow rapidly over the next few years and CLEAR is uniquely positioned to be the leader in using this technology to help consumers to access experiences beyond the airport more quickly and safely,” said Ted Leonsis, Revolution Growth co-founder and partner. “We believe in CLEAR’s vision and its ability to use its technology for several other use cases that require identity verification to grant access.”

“CLEAR is focused on creating frictionless experiences that strike the right balance between security, privacy and convenience so people can enjoy more of what they love,” said CLEAR CEO Caryn Seidman Becker. “T. Rowe Price and Revolution share CLEAR’s belief that identity is foundational to virtually every aspect of a person’s life, and that biometrics is the bridge to making those everyday experiences easier and more secure.”

Over the last year, CLEAR has introduced a number of new experiences for members including:

  • Hertz Fast Lane powered by CLEAR: Enables members to seamlessly and securely verify their identity and rental car reservation and get through the exit gate in 30 seconds or less.
  • Major League Baseball (MLB) and Tickets.com: Enables fans to use their biometrics instead of a paper or mobile ticket to enter the ballpark. After a successful pilot in 2018, this will be available at stadiums across the country during the upcoming baseball season.
  • Seattle Seahawks & Seattle Mariners: Enables fans at CenturyLink Field and T-Mobile Park to buy food and drinks, and prove they are of legal age for alcohol purchases, with the tap of a finger, reducing friction at another location within the venue.

CLEAR’s biometric identity platform is certified as Qualified Anti-Terrorism Technology by the Department of Homeland Security (DHS) and complies with National Institute of Standards and Technology (NIST) standards. The company has also been awarded numerous patents by the United States Patent and Trademark Office (USPTO), including for biometric systems and methods used to determine a person’s identity and access.

 

ABOUT CLEAR

CLEAR is transforming the way people live, work and travel. Today, CLEAR is powering a frictionless security experience in 40 U.S. airports and sports venues. When you are you, instead of something in your pocket, life is more frictionless, more secure and more predictable. CLEAR is trusted by millions of members and is certified as a Qualified Anti-Terrorism Technology by the U.S. Department of Homeland Security. After enrolling at any CLEAR location, members can begin using CLEAR Lanes immediately (https://www.clearme.com/where-we-are). For more information on CLEAR, visit http://www.clearme.com.

 

CONTACTS:

Adam Grossberg

646-661-7106

adam@clearme.com

 

John Eddy

Goldin Solutions

212-319-3451, ext. 648

john@goldin.com

 

Lauren Claffey

Hamilton Place Strategies

706-830-5180

lclaffey@hamiltonps.com