The geolocation and anti-fraud company said Norwest Venture Partners and Arctos Sports Partners made minority investments to support its growth, including expansion into financial services, crypto and media-rights management. It declined to disclose the size of the investment or its valuation. (The Logic)
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The geolocation and anti-fraud company said Norwest Venture Partners and Arctos Sports Partners made minority investments to support its growth, including expansion into financial services, crypto and media-rights management. It declined to disclose the size of the investment or its valuation. (The Logic)
Talking point: The new investors will be a strategic resource, GeoComply CEO Anna Sainsbury said in an email to The Logic. Silicon Valley’s Norwest has relationships with large financial institutions, including Wells Fargo, and Texas-based Arctos has investments in the sports and media industry, reportedly owning stakes in more than a dozen major sports teams including the Golden State Warriors and Liverpool Football Club. GeoComply claimed unicorn status, meaning a valuation above $1 billion, in March 2021 when Blackstone Growth and Atairos invested undisclosed sums. Sainsbury said Tuesday ithe company became profitable several years ago, and surpassed US$100 million in annual revenue last year. The company plans to increase its 550-person staff by 200 this year.
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