Wednesday, October 31, 2007

Semtek Gets Series A

San Diego-based Semtek, a provider of a hardware devices for payment card security, announced today that it has raised a Series A round of funding. Amount of the funding was not disclosed. The funding came from RRE Ventures and Venrock, who co-led the funding, and also was supported by VeriFone Holdings, a strategic investor in the firm. Semtek is developing hardware which is targeted at combating credit card counterfeiting. Rich McGinn at RRE, Mike Brooks at Venrock, and Douglas Bergeron, Chairman and CEO of VeriFone, join the firm's board of directors as part of the funding. More information »