Teddy Sagi’s Kape Technologies, a digital security privacy business, raised $220 million from both new and existing shareholders in a share placing on the London Stock Exchange. The company said that it plans to use the new funds for making further acquisitions. Sagi now holds a 54% stake in Kape after acquiring another $120 million in shares.
Kape Technologies is a cybersecurity company that says it is focused on “helping everyone have a better digital experience with greater privacy and protection.” The company says that it focuses on protecting consumers and their personal data. It has about 7 million paying subscribers and employs more than 1,000 people across ten different offices around the world.
Other than Teddy Sagi, the major shareholders in Kape Technologies include CEO Ido Ehrlichman, CFO Oded Baskind, Martin Blair, Dan Pomerantz and Pierre Lallia.
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“We are delighted to have received such a strong endorsement of both our business and our growth strategy from new and existing shareholders,” said Kape Technologies CEO Ido Ehrlichman. “We have worked extremely hard to create the largest pure-play digital privacy software provider globally but believe we have much more that we can accomplish. This fresh injection of capital will help us accelerate our organic growth plans alongside capitalizing on potential acquisition opportunities.”
Teddy Sagi is best known for being behind the hit Israeli gaming company Playtech. The company was sold last fall for $3.7 billion to Australian gambling machine manufacturer Aristocrat Leisure. Forbes estimates his wealth to be about $5.4 billion. Sagi has made multiple successful exits, both through buy outs and IPOs.
Teddy Sagi was born in Tel Aviv in 1971 and founded Playtech before the age of thirty. He launched two other AIM-listed online services companies – Kape Technologies PLC, internet security and digital distribution platform and SafeCharge, an online payment service provider. In August 2019, Teddy’s entire interest in SafeCharge was sold to a Canadian payments tech company, and as a result of the acquisition, SafeCharge was delisted from the LSE.