Permira Growth, a leading private equity firm, has invested $40 million in BioCatch, a behavioral biometrics company, for a minority stake acquisition. The investment will help BioCatch expand its global reach and accelerate its growth in the rapidly evolving digital identity and fraud prevention market.
BioCatch uses advanced behavioral biometrics to analyze user behavior and detect fraudulent activity in real-time. Its technology is used by banks, e-commerce companies, and other organizations to protect against account takeover, new account fraud, and other types of online fraud. The company’s platform analyzes more than 2,000 behavioral parameters to create a unique user profile that can detect anomalies and suspicious behavior.
The investment from Permira Growth will help BioCatch expand its product offerings and increase its market share. The company plans to use the funds to invest in research and development, expand its sales and marketing efforts, and explore new partnerships and acquisitions.
“We are thrilled to partner with Permira Growth as we continue to grow our business and expand our reach,” said Howard Edelstein, CEO of BioCatch. “Permira’s deep expertise in the technology sector and their track record of supporting high-growth companies make them an ideal partner for us.”
Permira Growth has a strong track record of investing in high-growth technology companies. The firm has invested in a number of successful companies, including Magento Commerce, LegalZoom, and Ancestry.com. Permira Growth’s investment in BioCatch is a testament to the company’s potential for growth and success in the digital identity and fraud prevention market.
“We are excited to partner with BioCatch as they continue to innovate and lead the way in the behavioral biometrics space,” said Brian Ruder, Partner at Permira Growth. “Their technology is critical in the fight against online fraud, and we believe that BioCatch has significant potential for growth as more organizations look to protect their customers from cyber threats.”
The investment from Permira Growth is a significant milestone for BioCatch and a testament to the company’s innovative technology and strong market position. With the support of Permira Growth, BioCatch is well-positioned to continue its growth and expand its reach in the digital identity and fraud prevention market.
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