(MENAFN- EIN Presswire)
Imageware is winning large competitive contracts with their modernized Identity Platform, with many more deals in the pipeline.
Imageware (OTCMKTS:iwsy) With a healthy pipeline for 2022 and 2023, Imageware is poised to take off with its modernized platform with biometrics being a critical feature to identify and validate one's identity.”
— Kristin TaylorSAN DIEGO, CALIFORNIA, UNITED STATES, June 23, 2022 /EINPresswire.com / -- Imageware ® (OTCQB: IWSY) (“Imageware” or“the Company”), a leader in biometric identification and authentication, is winning large competitive contracts with their modernized Identity Platform, with more in the pipeline.
Imageware began rebuilding the Company in March 2020, including upskilling the team, modernizing legacy products, and driving a focused go-to-market approach. These changes are resonating with both customers and the marketplace.
Since 1998, state, local, and federal law enforcement (LE) have been an important segment for Imageware when they developed and deployed the first digital booking software for some of the largest LE agencies in the world. In 2021, Imageware redesigned their flagship product to deliver innovative features, a flexible and mobile UI, a Cloud-based and containerized backend, and modules that can be purchased in part or as a unified platform. Their highly touted 24/7 mission critical U.S.-based technical support team is what many customers say“seals the deal” against the competition.
This market-leading support and modernized browser-based platform allowed the Company to win their largest Software-as-a-Service (SaaS) deal to date with the King County, Washington's Sheriff's Department, worth at least $1.5M over five years. Imageware migrated millions of records to the Cloud to enable officers to conduct searches and create lineups in seconds from any device. This win opens the door to 18,000 other LE agencies in North America looking to move away from their stagnant incumbents to improve operational efficiency by leveraging innovative, technology-first solutions.
Imageware's Biometric Engine ® (BE) provides fast, accurate 1:1 authentication, 1:N identification, and X:N searching for LE and other applications. The BE was revamped in early 2022 and is pivotal to the Company's technology portfolio, having been leveraged across the federal government.
Last week, the Company won a large federal project worth $4.6M over five years, which includes fast and accurate matching combined with Imageware's Identify module, a part of the new LE platform. While this win provides substantial revenue growth for 2022, it represents much more: a critical reference for Imageware to other agencies who are looking to replace their aging systems. More details will be announced soon.
With a healthy pipeline for 2022 and 2023, Imageware is poised to take off to meet the industry's critical need to identify and validate identities with biometrics.
About Imageware's Identity Platform
Imageware's scalable Identity Platform delivers identity proofing, authentication, and cybersecurity solutions. Built upon the award-winning, multi-patented Biometric EngineⓇ, its easily extensible architecture is quick to deploy and simple to scale.
About Imageware's Law Enforcement Platform
As part of the Imageware Identity Platform, Imagware Law Enforcement reduces booking time with fully automated capture and increases officer safety with flexible support for station or field use.
Imageware identifies, verifies, and authenticates who people are, not just what keys and codes they have. Their server-based, multimodal biometric solutions provide faster, accurate identification to better secure communities, data, and assets. Imageware solutions are trusted globally by law enforcement, government agencies, and private enterprises. Imageware: Identity with Biometric Certainty. For more information, please visit .
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as“anticipate,”“believe,”“estimate,”“expect,”“forecast,”“intend,”“may,”“plan,”“project,”“predict,”“if,”“should” and“will” and similar expressions as they relate to Imageware are intended to identify such forward-looking statements. Imageware may from time to time update publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see“Risk Factors” in Imageware's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
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