NEW YORK, Oct. 12 /PRNewswire/ -- Hoyos Corporation (Hoyos), formerly Global Rainmakers Inc. (GRI), a Puerto Rico based intellectual property holding company and advanced R&D laboratory, announced today that it has secured a $40 million round of investment funding led by one of the company's primary shareholders and a private equity partner.
"The new name reflects the growing international focus of this company. Hoyos is redefining the market by creating an integrated enterprise and consumer identity management platform," said Hector Hoyos, CEO of Hoyos Corporation. "I have built and developed many successful technology companies over the course of my career, but this is the first one where I've put my name on the door because I believe so strongly in the future of this company, its intellectually property, and its management team."
The $40 million infusion of capital will be used to accelerate investment in cutting edge research and development and further distance Hoyos from competitive offerings. The company is in the midst of extending their international reach to provide global sourcing, production and advanced product development. Additional focus of the investment will strengthen operations, and boost marketing and sales efforts.
"The Hoyos technology is changing the concept of integrated, user defined identity. This new paradigm aligns people, privacy, community, technology, and commerce," said Dr. Keith Hanna, Chief Technology Officer of Hoyos Corporation.
Hoyos' current portfolio of products includes the HBOX®, HBOX®-V, HCAM®, EyeSwipe®, and EyeSwipe® Mini. This line of iris identification products will expand into the consumer sector in the coming months. The company had sold or licensed its products both domestically into the governmental and financial services sectors, as well as internationally in Europe, Latin America, and Asia.
Hoyos' suite of iris-based identity technologies has been tested and proven across the public sector by U.S. government agencies including the Pentagon and the U.S. Air Force, and is being evaluated by the U.S. Department of Homeland Security. Iris identification products developed and manufactured by Hoyos are currently in use in the financial sector with major corporate clients including Bank of America.
"During the last year we have strategically proven the value of our technology and have laid the groundwork for this new Hoyos brand. In the near future, Hoyos identity solutions will become synonymous with identity, security, and mobility," said Hoyos.
About Hoyos Corporation
Hoyos Corporation is a global company with shareholders from across the world. It was incorporated in San Juan, Puerto Rico in early 2006 as an intellectual property holding company with a world class R&D operation. Today, Hoyos is revolutionizing the access control and identity management space focusing on developing next-generation systems and services for the public, commercial and consumer sectors. The global reliance upon electronic data and transactions has created an increasing need to secure identity and control access to physical locations, electronic networks and the devices that connect to them in order to combat the very costly threats of identity theft and financial fraud. This new Hoyos paradigm unleashes a vastly different operating model where privacy, convenience and security are synonymous.
SOURCE Hoyos Corporation