EyeVerify sold for $100 million to Alibaba’s Ant Financial [Updated]

Kansas City-based EyeVerify has been sold to Ant Financial Services Group, a payment affiliate of Alibaba and operator of Alipay, according to a press release on EyeVerify’s website. Although the amount was not publicly disclosed, Bloomberg is reporting from an anonymous source the deal was for around $70 million. Update: Startland News reports from an anonymous source the sale was over $100 million. Update (9/14/16): Fortune is confirming the amount was for $100 million.

“Ant Financial’s vision to turn trust into wealth for small and micro enterprises as well as consumers worldwide resonates deeply with our own core mission,” said Toby Rush, founder and CEO of EyeVerify, in a press release.

The acquisition follows a licensing agreement between the two companies earlier this year.

EyeVerify is the creator of Eyeprint ID, which makes secure mobile eye verification as easy as a selfie. The company was founded in 2012.

According to an interview with Rush in the Kansas City Star, the financial beneficiaries of the sale will include Mid America Angels, Flyover Capital and Nebraska Angels, among others.

Rush is a member of Pipeline Entrepreneurs, a regional organization of elite entrepreneurs that includes executives and founders from startups in Nebraska, Kansas and Missouri.

According to the press release, EyeVerify will operate as a subsidiary to Ant Financial and will remain in Kansas City.

Silicon Prairie News last reported on EyeVerify in 2014, “Latest version makes EyeVerify’s scanning software even simpler.”

Update: SPN reached out to Rush for comment on what this news means for the Silicon Prairie.

“Building a company anywhere has its advantages and disadvantages,” said Rush. “The Silicon Prairie is no different. What is significant is that we showed that it can be done. And done in a very big way.”

More coverage:

South China Morning Post

The Street

Fast Company