New York and Tel Aviv, 03 May 2023 - BioCatch, the pioneer of behavioral biometrics intelligence and a global leader in digital fraud detection, today announced that Permira Growth Opportunities has acquired a significant minority stake in the company from existing investors, making it the third largest shareholder in the company, following Bain Capital and Maverick Capital. With the support of its shareholders, BioCatch will focus on accelerating opportunities for geographical expansion, product innovation, and potential M&A.
BioCatch is the leader in behavioral biometric intelligence and advanced digital fraud detection, leveraging technology built upon patented artificial intelligence and machine learning technology to collect thousands of data signals, analyze a user’s cognitive intent, and deliver highly accurate insights as to the legitimacy of their identity and behavior. 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.
“Through our focus on the online fraud detection, customer identity and access management markets, we have long admired BioCatch and have been impressed by the company’s performance and offering. We believe BioCatch is well-positioned to continue to gain market share and expand its leading position within the large, growing area of online fraud detection,” said Stefan Dziarski, Partner and member of the PGO investment committee.
