QSecure raises $5M for card authentication

QSecure is a Los Altos, Calif. company that has devised a security measure to prevent theft of credit and debit card information.

The company’s technology centers around a tiny electronic chip embedded in the card’s magnetic strip. When the card is swiped for a transaction, the chip causes part of the strip to change, making each transaction unique.

The $5 million funding was the company’s third. Existing investors Allegis Capital, Societe Generale, UMC Capital and Worldview Technology Partners all participated, according to VentureWire (subscription required). The company has taken a total of $23 million, including the current round.

Next Story: CeeLite, maker of light-emitting capacitors, takes $4M
Previous Story: Tesla says first cars will be testing versions, will raise $40M more