BioCatch Team (Facebook)
Permira Growth Opportunities has acquired what was described as a significant minority stake in the Israeli biometrics and behavioral tech firm BioCatch. The price of the acquisition was not revealed, but Calcalist reported that it was for $40 million.
Permira is a global investment firm that says it multiplies the potential of companies and people to build successful businesses with growth ambitions.
Founded in 2011, BioCatch offers a service in Behavioral Biometrics that analyzes an online user’s physical and cognitive digital behavior to protect individuals and their assets. The company says that its mission is to unlock the power of behavior and deliver actionable insights to create a digital world where identity, trust and ease seamlessly co-exist. Leading financial institutions around the globe use BioCatch to more effectively fight fraud, drive digital transformation and accelerate business growth. With over a decade of analyzing data, over 60 patents and unparalleled experience, BioCatch continues to innovate to solve tomorrow’s problems.
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Today, BioCatch counts over 100 leading global banks as customers, including over 25 of the top 100 global banks, who use BioCatch solutions to fight fraud, accelerate digital transformation, create new revenue channels, and improve customer satisfaction.
“We are excited to welcome Permira as our partner and look forward to working together to further expand our leadership position in the digital fraud prevention sector. Permira is one of the leading global private equity firms in the world, with particularly strong experience in the technology space, and we believe its deep sector expertise and company-building capabilities will help us to expand our business and strengthen our global position,” said Gadi Mazor, CEO of BioCatch.
Just a few months ago, Liminal, a strategy advisory firm serving digital identity, declared BioMatch a “Company to Watch in 2023.” The companies highlighted on Liminal’s Companies to Watch list are chosen independently by CEO Travis Jarae and his team of researchers. The companies are evaluated based on their momentum, how well their products fit the market, and the current state of the market.
At the time, Gadi Mazor said that BioCatch was, “honored to be recognized by the experts at Liminal,” said Gadi Mazor, BioCatch CEO. “As financial institutions and their customers face a tsunami of scam attacks, identity theft, and financial fraud, technology must continuously evolve and adapt. I’m proud of our team who are relentlessly focused on serving BioCatch customers, helping today’s financial institutions defend against evolving fraud threats.”
