Thursday, August 21, 2008

Spark leads $44M round in airport security firm

Boston venture capital firm Spark Capital has led a $44.4 million investment in New York-based Verified Identity Pass Inc., the operator of Clear, which allows members to quickly pass through airport security.

The new round of funding also included new investor Syncom Venture Partners of Maryland and return backers Lockheed Martin, GE Security, Baker Capital, Lehman Brothers and CEO Steven Brill.

The Clear program allows frequent travelers to access designated fast lanes while passing through airport security using a membership card. The new financing will help the company grow membership and extend into new markets, according to company statements.

The company has signed up more than 200,000 people nationwide, and is accepted in 18 airports, including Denver, San Francisco and both Reagan and Dulles airports in Washington, D.C. According to the company, Atlanta will soon be added to Clear’s roster.

Based in Boston, Spark Capital boasts $622 million under management. Other portfolio companies include SendMe Inc. and Twitter Inc. of California, Verivue Inc. of Westford and BuzzWire Inc. of Bedford.