I think the OP needs to outline the business model of Clef. How do you guys pay for all the servers and bandwidth? How do you guys pay for the technical and support staff?
Clef, an Oakland-based two-factor authentication solution that uses Apples fingerprint reader rather than passwords, has raised $1.6 million in seed funding from Morado Ventures and individual angel investors.
www.getclef.com
http://fortune.com/2014/11/19/term-sheet-nov-19/