BioCatch, the pioneer in behavioral biometrics intelligence and a global leader in digital fraud detection, has recently announced that Permira Growth Opportunities has acquired a significant minority stake in the company.
This investment positions Permira Growth Opportunities as the third largest shareholder in BioCatch, following Bain Capital and Maverick Capital.
The company raised an undisclosed amount from existing investors, with Permira Growth Opportunities joining as a significant shareholder. This investment will enable BioCatch to focus on accelerating opportunities for geographical expansion, product innovation, and potential mergers and acquisitions.
BioCatch’s advanced digital fraud detection technology is built upon patented artificial intelligence and machine learning, collecting thousands of data signals and analyzing a user’s cognitive intent to deliver highly accurate insights into the legitimacy of their identity and behavior. With over 100 leading global banks as customers, including more than 25 of the top 100 global banks, BioCatch’s solutions are used to fight fraud, accelerate digital transformation, create new revenue channels, and improve customer satisfaction.
The new funding will be used to further expand BioCatch’s leadership position in the digital fraud prevention sector, leverage Permira’s deep sector expertise and company-building capabilities to expand the business, and strengthen its global position.
BioCatch CEO Gadi Mazor said, “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.”
Stefan Dziarski, Partner and member of the PGO investment committee, expressed his admiration for BioCatch and their offerings in the online fraud detection, customer identity, and access management markets.
Ran Maidan, Senior Adviser and Head of Permira in Israel, added that they are looking forward to supporting BioCatch in its next phase of growth, as the company is the clear leader in the most critical layer in online fraud detection – behavioral biometrics.
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