Visualant raises $5M for fraud prevention products

visualantlogoVisualant, a Seattle-based company that offers authentication and diagnostic solutions, announced today that it closed equity funding in excess of $5 million led by Special Situations Technology Fund.

Visualant’s light-based, spectral-pattern matching ChromaID technology is used mainly in the security realm, but can also be applied to medical, agricultural and industrial markets. The technology is allows for detection and diagnostic markers that the human eye can’t pick up.

CEO Ron Erickson previously held executive positions at Egghead, eCharge and Blue Frog Mobile. Jeff Dickey sat down with Erickson for an episode of NextCast last fall, where the CEO talked about luck, the future of apps, and waking up at 3 a.m. He also discussed how competing in Ironman races is a bit like a startup.