Venture Funding, innovation, Smart Card Security

Semtek Raises $6.7M in Series B Round

Bruce V. Bigelow 10/14/09

San Diego’s Semtek Innovative Solutions has raised more than $6.7 million in a planned Series B round of $8 million, according to a recent regulatory filing. Semtek, which is commercializing technologies for preventing the theft of credit card data and identifying counterfeit credit cards, said earlier this month that VeriFone Holdings now owns a 19.9 percent stake in the company. Semtek’s founding investors and venture capital investors Venrock and RRE Ventures, which added to their investment in the round, will own the remaining 80.1 percent stake in Semtek.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492