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Chantilly-Based DSC Lands $50 Million Investment from Saudi Firm

05/22/2013
Digital Signal Corp. (DSC), a Chantilly-based developer of facial recognition and identity management tools, said on Wednesday it has landed a new $50 million investment from Saudi Arabia's Technology Control Corp. (TCC). TCC has the option to increase its investment by another $60 million over the next year. Digial Signal plans to use the funding to expand its sales and marketing, distribution and manufacturing activities, as well as to establish international headquarters in Geneva, Switzerland. "We believe that DSC's technologies comprise a near term multi-billion dollar opportunity in the Middle East market and multiples of that worldwide," said Bejad Alharbi, the founder and chairman of TCC. DSC now has raised nearly $100 million since its incpeiton, with previous backers including Columbia Capital, Novak Biddle Venture Partners, Silverhaze Partners, Paladin Capital Group and City Light Capital.