QueueCard, an innovator in credit card authentication solutions that presented to Silicom members last year, raised $7M on a pre-money valuation of $7.5M. The 2 years old company now valued at $14.5M. Thier investors include Allegis Capital (Jean-Louis Gassee), WorldView (Pete Goettner), and Societe Generale, thier first customer and a large French bank. The company received over $250k in revenue the past few months, with another $1.5M expected within the next 12 months.

The company is hired approximately 14 scientists and engineers with the goal of developing and refining thier electromagnetic cryptographic MEMS engines, and utilizing them to secure the magnetic stripe on credit/debit cards, building access cards, military ID cards, etc. QueueCard expect to have no more than about 25 employees, since they are an IP (Intellectual Property) fabless MEMS company. The new CEO is a former CEO of Rio Players/Diamond MultiMedia and Symantec, the former CEO of ActivCard (took them public 5 years ago). The company have openings for physicists, materials scientists, cryptographers, and enterprise server development engineers.

More about QueueCard please visit www.queuecard.com