CLEAR

CLEAR

Biometric identity verification for security access

About CLEAR

Simplify's Rating
Why CLEAR is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Rating Differentiation

Industries

Consumer Software

Cybersecurity

Company Size

1,001-5,000

Company Stage

IPO

Total Funding

$131.3M

Headquarters

New York City, New York

Founded

2010

Overview

CLEAR specializes in speeding up the identity verification process at security checkpoints, primarily for frequent travelers, sports fans, and event-goers. The service allows members to use dedicated lanes at airports, stadiums, and other venues, significantly reducing wait times. CLEAR uses biometric technology, such as fingerprints and iris scans, to provide touchless ID verification, replacing traditional identification methods. Unlike its competitors, CLEAR operates on a subscription-based model, where customers pay a membership fee for quicker access, and it partners with major airlines to enhance the user experience. The company's goal is to streamline security processes while ensuring data protection, as evidenced by its SAFETY Act Certification from the Department of Homeland Security.

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Simplify's Take

What believers are saying

  • CLEAR's EnVe Pods enhance speed and efficiency in identity verification.
  • Partnerships with airlines like Delta strengthen CLEAR's position in the travel industry.
  • Expansion into healthcare with Wellstar offers new revenue opportunities.

What critics are saying

  • Increased competition in biometric technology could impact CLEAR's market share.
  • Rapid adoption of face-first technology by competitors may challenge CLEAR's EnVe Pods.
  • Expansion into healthcare may bring regulatory and data privacy challenges.

What makes CLEAR unique

  • CLEAR uses biometric technology for fast, secure identity verification at checkpoints.
  • The company offers a subscription service for expedited security at airports and venues.
  • CLEAR is SAFETY Act Certified, ensuring high standards for data protection.

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Funding

Total Funding

$131.3M

Above

Industry Average

Funded Over

3 Rounds

IPO funding comparison data is currently unavailable. We're working to provide this information soon!
IPO Funding Comparison
Coming Soon

Benefits

Food and beverage

Unlimited PTO

Comprehensive benefits

Continued education

CLEAR membership

Diversity and Inclusion counsel

Sprint demos and hackathons

Innovation guild

On-site gym

Company News

PYMNTS
Jan 2nd, 2025
Global Live Events Industry Focuses On Biometrics In 2025

Biometrics are increasingly being adopted for use at sports and other live events. The technology is being used to enhance ticketing, credentialing, and sales of concessions, merchandise and alcohol, BiometricUpdate.com reported Tuesday (Dec. 31). The report cited examples of solutions being deployed by companies and leagues in the United States, Europe and Latin America

PR Newswire
Nov 25th, 2024
Clear Launches New Enve Pods For Five Times Faster, Even More Seamless Traveler Experience

New Cutting-Edge, Face-First Technology Enables Members to Verify Identity In Just Seconds. NEW YORK, Nov. 25, 2024 /PRNewswire/ -- CLEAR (NYSE: YOU), the secure identity company, continues to enhance the Member experience across its airport network with the roll out of its EnVe Pods, an innovative face-first biometric technology powering identity verification that is five times faster. These state-of-the-art EnVe Pods (EnVe stands for "enrollment and verification"), enable members to verify their identity in just seconds—no fingerprint or eye scan required

PR Newswire
Aug 5th, 2024
Clear Announces 4,000,000 Block Share Repurchase Agreement With Delta Airlines And $100 Million Increase To Share Repurchase Authorization

NEW YORK, Aug. 5, 2024 /PRNewswire/ -- CLEAR Secure, Inc. (NYSE: YOU), ("CLEAR ", or "The Company"), the secure identity company, announced the repurchase of 4,000,000 shares of Class A Common Stock in the third quarter of 2024 pursuant to a block share purchase agreement with Delta Air Lines, Inc. ("Delta") (NYSE: DAL).Delta continues to own 4,277,958 shares of CLEAR's Class C Common Stock."CLEAR is an important partner whose technology enhances the travel experience for Delta's customers," said Ranjan Goswami, Delta's Senior Vice President, Consumer Experiences. "We look forward to our continued partnership.""Delta was an early investor in CLEAR in 2016 and meaningfully accelerated our growth - a true win-win partnership," said Caryn Seidman Becker, CLEAR's CEO. "We look forward to continued collaboration as we create frictionless experiences for travelers."CLEAR announced that its Board of Directors authorized a $100 million increase to its existing Class A Common Stock share repurchase program

PR Newswire
Aug 2nd, 2024
Clear Announces $0.10 Regular Quarterly Cash Dividend

NEW YORK, Aug. 2, 2024 /PRNewswire/ -- Clear Secure, Inc. (NYSE: YOU) ("CLEAR" or the "Company") today announced that its Board of Directors (the "Board") declared a regular quarterly dividend of $0.10 per share, payable on September 17, 2024 to holders of record of Class A Common Stock and Class B Common Stock as of the close of business on September 10, 2024.The Company will fund the payment of the quarterly dividend from proportionate cash distributions by its subsidiary.The declaration, timing and amount of any future dividends will be subject to the discretion and approval of the Board and will depend on a number of factors, including CLEAR's results of operations, cash flows, financial position and capital requirements, as well as general business conditions, legal, tax and regulatory restrictions and other factors the Board deems relevant at the time it determines to declare such dividends.ABOUT CLEARCLEAR's mission is to create frictionless experiences. With over 22 million members and a growing network of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right

PR Newswire
Jul 23rd, 2024
Clear To Announce Second Quarter 2024 Financial Results On August 6, 2024

NEW YORK, July 23, 2024 /PRNewswire/ -- Clear Secure, Inc. (NYSE: YOU), the secure identity company, today announced that it will report financial results for the second quarter ending June 30, 2024 at approximately 6:00 a.m. ET on Tuesday, August 6, 2024. At 8:00 a.m. ET, results will be discussed via live webcast and teleconference.Investors and analysts can access the live teleconference call by dialing toll-free 877-407-3089 for U.S. participants and +1-215-268-9854 for international participants

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