Permira, a private equity firm, has bought a majority stake in BioCatch, a behavioral biometric intelligence company, for $1.3 billion to fuel its global expansion and product roadmap in the financial market, focusing on AI-based threats. BioCatch, known for monitoring user behavior to detect fraud, will use Permira's ownership to grow in key markets and possibly engage in mergers and acquisitions
The company, which has shown profitability, aims to reinforce its position in the market by leveraging behavioral biometrics and differentiating itself from other fraud detection solutions. With Permira's investment, BioCatch looks to strengthen its existing base of 450 million users and 10.5 billion monthly monitored sessions, showcasing a potential for strategic growth and innovation in the cybersecurity field. https://www.bankinfosecurity.com/permira-takes-majority-stake-in-biocatch-at-13b-valuation-a-25003