GeoComply Announces Blackstone Growth and Atairos as its First Institutional Investors
March 23 2021 - 8:00AM
Business Wire
GeoComply Solutions Inc. (“GeoComply” or “the Company”)
announced today that it has reached a definitive agreement for
minority investments led by funds managed by Blackstone Growth
(“Blackstone”) and from Atairos. The partnership – which represents
the first commitment of institutional capital to the company – aims
to support GeoComply’s continued growth in its core markets and
help accelerate expansion into new verticals.
GeoComply operates at the center of a new generation of
cybersecurity companies, leveraging advanced geolocation data to
make better risk-based decisions. Working as a critical piece of
the infrastructure for some of the world’s largest tech companies,
GeoComply has become a global market-leader for compliance-grade
geolocation data, which provides an important piece of the risk
industries’ decision-making engine.
“Our mission at GeoComply is to empower the future of Digital
Trust, and with Blackstone and Atairos as investors, we are taking
a material leap forward to make it a reality,” said Anna Sainsbury,
Founder and Chairman of GeoComply. “GeoComply has received
countless investment enquiries over the past few years but was in
the fortunate position to wait until the right opportunity came
along. In Blackstone and Atairos, we found the investors we were
looking for, not only with deep insight into Software and Gaming,
but also the Financial Services & Broadcasting verticals. We
valued their ability to trust and empower founders like David and
me to maintain our company values as we execute to our fullest
potential. Their integrity and professionalism throughout the
process was exceptional and we welcome their expertise and guidance
as we grow our business and move into new markets.”
Vishal Amin, a Managing Director at Blackstone Growth, said: “We
are deeply proud to have been selected as GeoComply’s first
institutional backers and invest in a clear market leader. We
believe the company is poised for significant further expansion in
the years ahead – particularly given their mission-critical role in
delivering compliance software solutions to the fast-growing,
global online gaming and sports betting industry. Anna and David
have built an incredible business, and we are excited to work
closely with them as they look to further increase the company’s
already strong leadership position into new markets and
opportunities.”
“GeoComply continues to innovate and provide its clients with a
first-class, mission critical service,” said Alex Evans, Partner at
Atairos. “We are excited to partner with Anna, David and the entire
GeoComply management team, and we look forward to leveraging our
experience to help the company continue to scale and expand into
new verticals.”
Terms of the transaction were not disclosed. The transaction is
subject to regulatory approvals and customary closing
conditions.
Deutsche Bank Securities Inc. acted as sole financial advisor to
GeoComply and Cameron McKenna Nabarro Olswang LLP and Sheppard
Mullin acted as legal advisors. Paul Weiss acted as legal advisor,
and The Raine Group and Deloitte also acted as advisors to
Blackstone. Davis Polk and Duane Morris LLP acted as legal advisors
to Atairos.
About GeoComply
GeoComply is a global leader in geolocation and compliance
technology. Founded in 2011, GeoComply has quickly become the
digital industry’s trusted solution for reliable, secure and
accurate geolocation services. GeoComply currently supports the
location verification requirements for iGaming, Broadcasting and
FinTech, with customers including Amazon Video, BBC, Roku, Draft
Kings, Akamai, FanDuel & MGM. For more information, please
visit www.GeoComply.com
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $619 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
About Atairos
Atairos is an independent, private company focused on supporting
growth-oriented businesses across a wide range of industries.
Atairos provides a unique combination of active strategic
partnership and patient long-term capital to high-potential
companies and their management teams. Atairos was launched in 2016
and has in excess of $5 billion of equity capital. Atairos has
offices in New York City, Philadelphia, and London. For more
information, please visit www.atairos.com
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Media Contacts
GeoComply Randy Halischuk Randy@Geoguard.com
Blackstone Matt Anderson matthew.anderson@blackstone.com
Atairos Jared Levy / Ben Spicehandler Sard Verbinnen & Co
Atairos-SVC@sardverb.com
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