Sentry Enterprises has brought in $13 million in a Series D preferred equity offering. The company plans to use some of the money to scale its own operations, and the rest to increase its stake in Pennsylvania’s X-Core technologies.
Sentry itself is best known for its SentryCard identity solution. The SentryCard is a physical access control card that comes with a built-in fingerprint sensor to provide an extra layer of biometric authentication. The card can be presented at points of entry, or at workstations to login and access various applications.
X-Core, meanwhile, holds a number of patents related to card manufacturing. Most notably, the company has developed lamination technology that is compatible with the core sheets used to integrate electronic components into the body of a card. Cards printed with X-Core’s technology have a wide range of applications, including payments and healthcare in addition to physical security.
The money from the Series D offering will make Sentry the largest shareholder in X-Core Technologies. Sentry praised X-Core’s engineering team, and suggested that it views the transaction as a strategic investment in the future of biometric cards.
“We couldn’t be more pleased or excited to grow our relationship with Sentry from customer to strategic partner,” said X-Core Technologies CEO Mark Cox.
“With the support from both existing and new investors, Sentry enters 2022 ready for its next chapter of growth to fulfill its vision of helping end-users achieve the zero-trust security architecture they strive for,” added Sentry Enterprises President John Calzaretta.
Genetec agreed to become an official SentryCard reseller at the tail end of 2021. The actual SentryCard is built with FPC’s T-Shape fingerprint sensor module, thanks to a partnership that was first forged in 2020. In the meantime, Fact.MR has predicted that biometric technologies will make up an increasing proportion of the overall physical security market.
January 21, 2022 – by Eric Weiss