Total amount raised
$135 Millions
Latest funding date
2/1/2021
Location
CLEAR has successfully raised significant funding, backed by 17 investors including LionTree and Liberty Media. The company offers secure identity verification services to streamline experiences at airports, stadiums, and other venues.
Continue reading to delve into the details of CLEAR's funding journey and the investors who support this innovative platform.
What Is CLEAR?
Founded in November 2010, CLEAR is an identity company based in New York, New York. The company was established by Ajay Amlani, Caryn Seidman-Becker, and Ken Cornick.
CLEAR uses biometrics to create a secure and connected world, integrating identity with various information sets to streamline and secure processes in sectors like travel, healthcare, and finance.
With a workforce of 1001-5000 employees, CLEAR ensures that users are always in control of their data, meeting high standards for performance and protection of sensitive information.
How Much Funding Has CLEAR Raised?
- Private Equity Round
- Amount Raised: $100M
- Date: February 2021
- Lead Investors: 32 Equity, Enlightened Hospitality Investments, Partnership Fund for New York City
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support customer growth, hiring, and technology development.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: July 2019
- Lead Investors: United Airlines
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance strategic partnerships and expand service offerings.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Revolution, T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Venture Round
- Amount Raised: $15M
- Date: April 2017
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new technologies and enhance existing services.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: April 2016
- Lead Investors: Delta Air Lines
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic alliances and improve service integration.
- Secondary Market
- Amount Raised: $20M
- Date: October 2015
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and support company growth.
Total Amount Raised: $135M. Current Valuation: Not publicly disclosed.
Key Investors
- 32 Equity
- Details: 32 Equity is the investment arm of the National Football League (NFL). It focuses on leveraging the NFL's brand and resources to invest in innovative companies.
- Investment Focus Areas: Sports, media, technology.
- Notable Investments: Fanatics, Genius Sports, On Location Experiences.
- Enlightened Hospitality Investments
- Details: Enlightened Hospitality Investments is a growth equity fund affiliated with Union Square Hospitality Group. It invests in companies that prioritize hospitality and customer experience.
- Investment Focus Areas: Hospitality, food and beverage, technology.
- Notable Investments: Goldbelly, Salt & Straw, Joe Coffee.
- Partnership Fund for New York City
- Details: The Partnership Fund for New York City is a nonprofit investment fund. It aims to create jobs and stimulate economic growth in New York City.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Zipari, Pypestream, BioLite.
- United Airlines
- Details: United Airlines is a major American airline headquartered in Chicago, Illinois. It operates a large domestic and international route network.
- Investment Focus Areas: Aviation, travel technology, customer experience.
- Notable Investments: Boom Supersonic, Archer Aviation, CLEAR.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm. It offers mutual funds, subadvisory services, and separate account management for individuals, institutions, and retirement plans.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Facebook.
What's Next for CLEAR?
With the recent $100 million funding, CLEAR is poised to capitalize on significant growth opportunities. The expansion of their Health Pass application, which connects identity to COVID-related information, is a key focus. This technology is already being used by major organizations like the National Hockey League and MGM Resorts, indicating a vast potential for broader adoption across various sectors.
Future fundraising seems promising as CLEAR continues to demonstrate its value in secure identity verification and health-related solutions. The company’s ability to attract high-profile investors suggests that additional rounds of funding could be on the horizon, further fueling its growth and technological advancements.
However, challenges such as ensuring data security and navigating regulatory changes remain. Competition in the identity verification space is fierce, and maintaining a competitive edge will require continuous innovation and strategic partnerships. As CLEAR scales, managing rapid growth effectively will be crucial to sustaining its success.
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