Permira is buying a majority position in BioCatch, valuing the Israeli behavioral biometrics company at $1.3 billion. The deal involves the Permira Growth Opportunities II fund purchasing shares primarily from Bain Capital Tech Opportunities and Maverick Ventures
Existing shareholders like Sapphire Ventures and Macquarie Capital will also increase their investments in BioCatch. Founded in 2011 amid the shift to online banking, BioCatch now serves over 190 financial institutions globally, including 30 of the top 100 banks. With over $200 million in funding, previous investors include major players like Barclays, Citi, and HSBC. Permira's initial minority investment in 2023 coincided with BioCatch's significant growth and profitability milestones. Gadi Mazor, CEO of BioCatch, expresses excitement about Permira's majority ownership, highlighting their tech and cybersecurity expertise and global network collaboration. The partnership aims to elevate BioCatch further in the industry. https://www.finextra.com/newsarticle/44087/permira-to-take-majority-stake-in-biocatch/security