Permira Growth Opportunities II, a fund advised by private equity firm Permira, has agreed to acquire a majority position in BioCatch, a digital fraud detection and financial crime prevention company.
BioCatch offers behavioral biometric intelligence and advanced fraud detection, leveraging artificial intelligence, data science and machine learning technology to analyze a user’s cognitive intent and deliver insights as to the legitimacy of their identity, motivations and behavior. Alongside the fund’s investment, existing shareholders Sapphire Ventures and Macquarie Capital will also increase their investments in BioCatch. The fund will buy out shares primarily from Bain Capital Tech Opportunities and Maverick Ventures, in a secondary transaction valuing the company at a total enterprise valuation of $1.3 billion. The deal aims to drive the company’s global expansion, advance its product roadmap and support its overall growth.