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ASSA ABLOY Invests in Paravision

Paravision is a provider of advanced facial recognition solutions.

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By: Anthony Locicero

Copy editor, New York Post

ASSA ABLOY invested in Paravision, a provider of advanced facial recognition solutions.
 
“The investment in Paravision is a strategic technological investment for the ASSA ABLOY Group and will accelerate the development of biometric solutions that leverage facial recognition algorithms and provide complementary growth opportunities,” said Nico Delvaux, president and CEO of ASSA ABLOY.
 
“In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration across a number of different markets and use cases,” added Björn Lidefelt, executive VP and head of Global Technologies business unit HID Global.
 
The investment aligns with HID Global’s strategic direction to embed facial recognition into solutions for a seamless and highly secure user experience in a variety of identity verification and authentication applications, including access control.
 
Paravision was founded in 2013 and has some 31 employees. 
 
The company is headquartered in San Francisco.
 
ASSA ABLOY´s investment is part of an MUSD 23 funding round for Paravision.

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