Nymi, Toronto wearable band company, raises $20m Canadian

Nymi raised its $15m USD series B round from  investor GII Tech from Dubai, with participation from existing investors Relay Ventures and Ignition Partners. This is on top of their Series A of $14m USD, making a total of $29m USD to date.

Nymi founder and CEO, Karl Martin said: 

"This is an important milestone for Nymi. We have made significant progress in the last two years, delivering on our vision of wearable, Always On AuthenticationTM. This new round of financing, with the support of our existing investors and the addition of GII Tech Ventures, provides us with the necessary resources to enter the next phase of scaled deployments."

Nymi’s vision is to deliver Always On Authentication™, transforming the model of authentication into a secure and seamless experience for both enterprises and end-users. Nymi’s first product, the Nymi Band, is a wearable device that delivers biometrically secured, persistent authentication. The Nymi Band utilizes strong biometric modalities such as HeartID™ – a proprietary technology that leverages the wearer’s unique cardiac signature (or ECG) as a biometric identifier.