Alliance Partners

Wednesday, February 14, 2024

Biocatch founders have pay day at unicorn valuation




Founders of Israeli cybersecurity business, BioCatch, Avi Turgeman and the late Benny Rosenbaum get paid out as Macquarie buys $32 million, Sapphire Ventures $70m and Permira Growth Opportunities $40 million at a valuation of slightly more than $1 billion.


What biocatch does 

BioCatch founded in 2011, specializes in software development for identifying and preventing bank fraud and money laundering.


BioCatch  numbers 

BioCatch is currently led by CEO Gadi Mazor, employs 280 people, half of whom are based in Israel. 


The recent surge in the company's value follows accelerated growth, propelling it to a yearly revenue pace of $100 million, leading to a positive cash flow. 


BioCatch clients

This growth is fueled by a 51% revenue increase from its 152 clients, consisting of banks and financial institutions. 


Notably, 28 of the world's top 100 banks are on BioCatch's client list. 


The early investors 

The primary shareholder in BioCatch , Bain Capital, led the last $145 million fundraising round in 2020 with the major global banks such as HSBC, Citi, Barclays, and the investment arm of American Express. 


To date, BioCatch has raised $253 million, with the proceeds from the last three rounds benefiting early investors seeking an exit.


Related articles:


https://www.linkedin.com/posts/cwsisrael_australian-investment-giant-macquarie-acquires-activity-7163085854314336256-96E5?utm_source=share&utm_medium=member_ios


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