Digital watermark developer Verance says it has secured $13 million in its latest round of funding. The company said leading investors included Constellation Ventures, an affiliate of Bear Stearns Asset Management, and MMC Capital, a subsidiary of MMC. Verance said that to date its total financing exceeds $40 million. The company will use the additional funds to enhance its products and services.
In November, San Diego-based Verancea lawsuit in federal court charging its rival Digimarc with violating antitrust and unfair competition laws. Among other things, the suit alleges that Digimarc illegally submitted Verance's digital watermarking technology to a standards group.