WISeKey raised additional $10 million

WISeKey divided its pre-IPO investment round into three tranches with the objective of raising a cumulative $120 Million in pre-IPO financing. The previous and second tranche was announced by the Company in December 2011. This new $25 Million investment includes a $10 Million investment raised in Q2 2013 and the JV partner`s option to invest an additional $15 Million pre IPO. At the conclusion of the three-tranche round, the Company expects to raise a total of $40 Million pre-IPO, which includes the JV partner`s option of $15 Million and will include the expansion of WISeKey headquarters to the USA. This new funding will come from US institutional investors and from the expansion of WISeKey`s current joint ventures in China, India, Russia and Saudi Arabia, completing the Company strategy to be present in all BRICs.

Since its incorporation in 1999, WISeKey has raised a total of $80 Million and will have raised a pre-IPO total of $120 Million. After the final round of financing, the post money valuation will likely have a $400 Million valuation.

WISeKey intends to use the proceeds to enter the BRIC markets and relocate a significant number of its activities to the USA, where there is robust investor support for high-growth companies specializing in the core businesses of cybersecurity, mobiles and social networks can be found.

The company intends to maintain several of its traditional areas of business in Switzerland. This includes its proprietary digital brand protection technology WISeAuthentic and its Trusted Models. The company`s Swiss hub will also continue to develop high-end encryption projects, including WISePhone which enables smartphones to make encrypted voice calls within closed groups, and R&D.

As part of its reallocation strategy, WISeKey has already relocated to its development lab to Vietnam where it currently employs 80 engineers for the development WISeID Personal, the mobile app using encryption technology to store private information and WISfans.com, the company`s social network for sports fans. The latter has already signed agreements with several iconic sports franchises, including a rights deal with Real Madrid for China, a global agreement with FC Barcelona and most recently an agreement with CR Flamengo, one of the biggest football clubs in Brazil.

"We are delighted to establish a Joint Venture WISeKey Saudi Arabia and assist the company to open business for WISeKey as the KSA will be spending more than $6bn in 2013 on cybersecurity. Under the Joint Venture agreement, WISeKey and Saudi Crown Investment SA will become financial and operational founders of the new entity", said Kaher Ben Naser Tahat, CEO Saudi Crown Investment SA.

"We`re thrilled with the progress of this round and this vote of support from investors and our JV partners. This new funding will be utilized to productize our groundbreaking Mobile Suite in the US: WISfans, WISeID and WISePhone technology, significantly broadening the multi-billion dollar market opportunity. Our ambition is to provide US-based consumers with hack-proof mobile technology over the next years", said Carlos Moreira, Founder and CEO of WISeKey.

WISeKey will be announcing further details on its USA operations during the month of September coinciding with its participation as the Official Fan App Supplier of ORACLE TEAM USA, the sailing syndicate preparing to defend the 34th America`s Cup in San Francisco in September.