BioCatch Team (Facebook)
BioCatch, an Israeli biometrics and behavioral unicorn that helps to fight against bank fraud, is being acquired by Permira Growth Opportunities II. Permia will acquire a majority stake in BioCatch, which will give the firm a $1.3 billion valuation.
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with a total committed capital of approximately €80 billion and makes long-term majority and minority investments across two core asset classes, private equity and credit.
Founded in 2011 by Avi Turgeman and the late Benny Rosenbaum, 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.
“After building a strong partnership with Permira over the last year, we are delighted to welcome them as majority shareholders,” said Gadi Mazor, CEO of BioCatch. “The firm’s impressive experience within technology and cybersecurity, combined with their scale, global network, and our close working relationship, has been invaluable since their initial investment. We’re excited to take BioCatch to the next level together. I’d also like to thank Matthew Kinsella from Maverick Ventures and Dewey Awad from Bain Capital for their support over the last four years, which has been key in helping us establish our leadership position in the market.”
