Homeland Security - Tuesday, March 21, 2006
VC-Backed Homeland Security Co. SafeView Bought By L-3
While the terms of the transaction were not disclosed venture investors in SafeView are thumping their chests over a strong return over a short investment cycle.
SafeView's low power millimeter wave technology detects such as weapons, explosives, plastics, ceramics, and metals by scanning the body and creating 3-D images of hidden contraband. L-3 Communications is a multi-billion dollar supplier of high technology security products to the Departments of Defense and Homeland Security.
The SafeScout 360
Founded in 2002, SafeView's patented technology was developed at the U.S. Department of Energy's Pacific Northwest National Laboratory.
SafeView's initial round of venture funding from Draper Fisher Jurvetson, DFJ ePlanet Ventures, Stanford University, and InVision Technologies. Paladin Capital Group, Novak Biddle Venture Partners, and Battelle Ventures joined the Series B round in June of 2004.
Read - Venture-Backed SafeView, Inc. Acquired by L-3 Communications (Press Release)
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