Category Archives: News

Cathay Health Backed Ascend Gene & Cell Therapies Launches with over $130M in Funding

Cathay Capital

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Netsecure acquired by Integrity360 to expand into the Nordics

August Equity

As part of its pan-European expansion plan, Integrity360 and Netsecure – both highly respected providers of cyber security services today announced that they have joined forces with Netsecure becoming a Integrity360 company. The terms of the transaction were not disclosed. The acquisition will enable Integrity360 to expand into the Nordic region, with Netsecure serving as its platform, operating with the benefit of the full resources and capability of the existing Integrity360 business.

Netsecure was founded in 2015, employs c.40 employees and is headquartered in Stockholm, Sweden. For the last four years Netsecure has achieved growth rates of over 35% pa, and during 2023 expects sales of c.€10m. 2022 was also a highly successful year for the Integrity360 group with order growth of approximately 30% and sales of c.€85m. Combined with Netsecure the enhanced group expects sales to exceed €110m during 2023, more than doubling under August Equity ownership.

In addition to Netsecure, Integrity360 expects to complete further acquisitions as part of its European expansion plan during the year. All of Netsecure’s employees will remain with the group, bringing the headcount of Integrity360 group to c.360. Both Integrity360 and Netsecure share the same customer service ethos, have deep cyber technical expertise, and share partnerships with several of the world’s leading cyber security equipment and software manufacturers.

Ian Brown, Executive Chairman at Integrity360 commented “This is a significant and exciting milestone for us and we are delighted to welcome the Netsecure team to Integrity360. The enhanced group will now significantly expand our activities and services throughout the Nordic region in addition to continuing our growth as the leading independent cyber security services specialist throughout the UK and Ireland. 2023 will also see the group expand into other major geographic markets. Our resources and track record are now considerable with over 250 cybersecurity engineers, analysts, consultants and specialists. The group provides a comprehensive range of end to end services and solutions to business organisations for all their cyber security needs. The group’s innovative range of services were recently recognised for a third time in a Gartner market guide, namely as a Representative Vendor in the Gartner market guide for Managed Detection and Response services and we look forward to offering those and other innovative cyber services to the Netsecure customers in the coming weeks and months”.

Mickey Patel, Partner at August Equity commented “The acquisition of Netsecure solidifies the plan that we embarked on with Ian and the team in 2021 to create a highly acclaimed, European cyber managed security services provider.  The management team at Integrity360 has been able to achieve exceptional organic growth to date, in conjunction with the integration of Caretower which was acquired in 2022 – the business now has a strong presence in the UK, Ireland, Nordics and Bulgaria.  We continue to support the team to expand its European presence and complete further strategic acquisitions.”

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CapMan Infra invests in Dutch IT infrastructure provider Serverius with an ambition to build a northern European data centre platform

CapMan Infra press release
9 May 2023 at 9:00 am EEST

CapMan Infra invests in Dutch IT infrastructure provider Serverius with an ambition to build a northern European data centre platform

Serverius represents the first investment of CapMan Infra in a planned data centre platform providing European-wide connectivity. The platform seeks to expand into the Nordic countries by utilising CapMan Infra’s local market knowledge.

Serverius has three operating data centres in the Netherlands with a total of ~8 MW available power, and advanced inhouse technical IT infrastructure expertise. The company also offers additional IT infrastructure services such as one of the largest Dutch IP networks and interconnectivity from the third largest Dutch internet exchange “SpeedIX”. Serverius was founded in 2008 by its current CEO and owner, Gijs van Gemert, and today employs approximately 30 people.

This investment is the first in a data centre platform that CapMan Infra is looking to build throughout Northern Europe, providing European wide connectivity. With CapMan’s local market presence, the company seeks to expand into the Nordic countries. The company will focus on optimising energy usage, increasing the use of renewable energy and establishing high operating standards for its operations and value chain.

“We are looking forward to start working with the Serverius team on ways to position the company for further growth in this exciting market. This is an important first step of building a larger international platform”, says Harri Halonen, Partner at CapMan Infra. “Together with Serverius we are set to develop the governance, administration and client focus of the business in order to accelerate growth,” Halonen continues.

“We are thrilled to have CapMan on board and welcome their institutional and professional approach to support in the next phase of growth for Serverius. Over the past few years, Serverius has undergone an amazing transformation. This new partnership with CapMan is a logical next step to further optimize our business processes and build a strong northern European platform together. To serve our European customer base in the years to come, our team looks forward to expanding our unique range of data center services. Given the strong collaboration with CapMan, I will continue to invest in our new European platform of the future. I will remain closely involved in the daily business as I have been doing up to now,” says Gijs van Gemert, CEO of Serverius.

The investment is CapMan Nordic Infrastructure II fund’s third investment, following investments in Skarta Energy and Napier.

For more information, please contact:

Harri Halonen, Partner, CapMan Infra, p. +46 768 710 062

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com. 

About Serverius

Serverius is an IT infrastructure supplier in the Netherlands with its own carrier, data center colocation, DDoS protection, and S3 Object Storage services. Our users are large internet platforms, European data centers, internet providers, cloud providers, and many more. All kinds of companies use Serverius as their base to deliver high-quality and protected internet infrastructure services to their users.

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Abacus Insights Enables Health Plans to Track Total Cost of Care Throughout the Claims Process

.406 Venture

Boston, May 9, 2023 –

Abacus Insights, the leader in data usability for healthcare payers, is introducing a data solution that better enables health plans to calculate and monitor their total cost of care in real-time and across all lines of business throughout the claims process. As a result, payers can closely track costs to target care for all members, address higher than expected claims and ensure sufficient reserves.

Medical costs account for 85 to 87 cents of every $1 spent by payers. For a plan with 100,000 Medicare members and 100,000 commercial members, reducing annual cost of care by 1% would generate more than $14 million in savings.

“This usable data on claims and the cost of care is foundational for improving quality and member experience and outcomes while controlling costs. It gives payers the information and insights they need to pursue key goals, from increasing preventative and early interventions for highly acute members and those with chronic conditions to working with providers to reducing out-of-network referrals,” said Minal Patel, CEO and founder of Abacus Insights.

Eliminating the lags and gaps in claims information improves a host of core operations and analytics, including:

  • maintaining adequate reserves
  • forecasting costs
  • designing and pricing value-based care arrangements and health-plan products
  • assessing network adequacy
  • developing risk scores for Medicare and ACA lines of business

Abacus Insights’ Cost of Care Management Solution pulls, consolidates and validates claims data wherever it is in the process, including pharmacy benefit managers, utilization management companies, delegated entities and other vendors and providers, so payers know how much has been paid or committed to spend at any moment in time, including by its delegated vendors. The usable data for claims also can be segmented and analyzed by line of business, product, geography, or other variables.

To improve claims cost planning and projections, Abacus Insights also can mine and incorporate other valuable information before, during and after care. The Abacus platform can add data about members searching the payer website or calling a service representative about whether a specific procedure is covered.

With the only HITRUST r2 data transformation platform and data solutions developed specifically for health plans, Abacus Insights makes healthcare data usable by ensuring it meets six dimensions—accurate, complete, timely, relevant, versatile and use case and application agnostic. Abacus Insights begins delivering business value in 4 to 6 months and at a 60% lower total cost than an internal build.

About Abacus Insights

Abacus Insights is a healthcare technology leader with the only data transformation platform and solutions built specifically for health plans. Focused on data quality and usability, Abacus Insights gives payers a new level of control and flexibility with their data by developing accurate, timely, and robust ecosystems that can support any analytics or other applications. Managing data for 21 million members, Abacus Insights partners with payers to deliver scalable solutions that drive strategic initiatives, control costs, and improve member lives and experiences.

Media Contact:
Lois Padovani

773.501.8744

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Juliette has a gun continues its adventure with Cathay Capital and welcomes in Weinberg Capital Partners in a context of sustained growth

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Erhvervs Webdesign (EWD) partners with Mentha to accelerate growth

Mentha

Mentha has entered into a partnership with the founders of Erhvervs Webdesign, a fast-growing Danish digital marketing agency, which focuses on micro-SMEs. The partnership will accelerate EWD’s growth organically and through acquisitions, both domestically and internationally.

Over the past two years, Erhvervs Webdesign has tripled its revenue and successfully evolved from a regional provider of digital marketing services to a nationwide player with five offices across Denmark in Esbjerg, Aarhus, Odense, Copenhagen, and Aalborg. EWD’s core offering comprises design and development of unique websites, search engine optimization, and digital performance marketing across multiple platforms. Based on a strong operational backbone and closeness to the customer, EWD supports small business owners in their digital marketing journey.

Apart from its strong market position in Denmark, EWD is characterized by a very effective company culture, which is based on sound values and centered around what is best for customers and employees. This unique culture helps EWD attract new colleagues as well as retaining existing employees.

The founders of EWD, Thomas Jensen and Klaus Bisgaard will continue as senior management of EWD and retain a substantial  shareholding. Both see significant potential for further growth both in Denmark and the rest of Northern Europe. The partnership with Mentha will provide the necessary capital and expertise to execute the growth strategy. Both Thomas and Klaus are very enthusiastic about the partnership, stating, “We have a lot of confidence in Mentha. Our journey has only just begun, and this partnership marks the start of the next phase. We are proud of what our team, customers, and partners have accomplished and look forward to reaching new heights with Mentha on board.”

The joint aim of EWD and Mentha is for EWD to become a leading digital marketing agency in Northern Europe focusing on micro-SMEs. As an active partner, Mentha is well positioned to support the development of EWD through their team of investment professionals in Amsterdam, Antwerp, and Copenhagen.

Lars Thorsgaard Jensen, Partner at Mentha Denmark comments: “We value EWD for its collective culture and drive to support micro-SMEs on their digital marketing journey. Together with the founders and the broader management team, we expect to continue EWD’s strong growth track by attracting and retaining talent, continuously developing the digital marketing offering and accelerating expansion through an international buy-and-build strategy.”

EWD is Mentha’s first investment in Denmark.

About Erhvervs Webdesign (EWD)

EWD is one of Denmark’s leading digital agencies with a focus on small-sized companies. EWD’s core offering comprises design and development of unique websites, search engine optimization, and digital performance marketing across multiple platforms. The company was founded in 2012 by Thomas Jensen and Klaus Bisgaard and employs ca. 70 employees based in Esbjerg, Aarhus, Odense, Copenhagen, and Aalborg.

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KKR & Co. Inc. Reports First Quarter 2023 Results

KKR

NEW YORK–(BUSINESS WIRE)– KKR & Co. Inc. (NYSE: KKR) today reported its first quarter 2023 results, which have been posted to the Investor Center section of KKR’s website at https://ir.kkr.com/events-presentations/.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230508005277/en/

A conference call to discuss KKR’s financial results will be held today, Monday, May 8, 2023 at 12:00 p.m. ET. The conference call may be accessed by dialing (877) 407-0312 (U.S. callers) or +1 (201) 389-0899 (non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Center section of KKR’s website at https://ir.kkr.com/events-presentations/. A replay of the live broadcast will be available on KKR’s website beginning approximately one hour after the broadcast.

ABOUT KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Investor Relations:
Craig Larson
+1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

Media:
Kristi Huller, Miles Radcliffe-Trenner or Julia Kosygina
+ 1 (212) 750-8300
media@kkr.com

Source: KKR & Co. Inc.

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Carve-out specialism results in healthy outlook for Montagu

Montagu

03.05.2023

Guillaume Jabalot, Partner and Tim Cochrane, Partner & Head of the Full Potential Partners team at Montagu, recently sat down with Taku Dzimwasha, Editor, Real Deals to outline why healthcare is such an interesting investment opportunity, and our carve-out-led strategy within the sector. Read the full interview below.

 

  • What are the key drivers for private equity investment in the healthcare sector?

Guillaume Jabalot: It’s clear that private equity is increasingly interested in the healthcare sector. This is due to several factors, including an ageing demographic, rising income levels, and the increasing prevalence of chronic diseases. Additionally, the critical nature of healthcare means that people are willing to pay for it no matter the macroeconomic conditions. These factors make healthcare a resilient and non-cyclical investment.

Montagu’s experience and expertise in healthcare, as well as our ability to identify and invest in high-growth areas early, sets us apart.

Guillaume Jabalot, Partner, Montagu

  • With so many private equity firms investing in healthcare, how do you differentiate yourselves and maintain a competitive advantage?

Jabalot: The healthcare sector is heavily regulated and thus complex; maintaining a competitive advantage is challenging given the level of interest from other private equity firms. However, Montagu’s experience and expertise in healthcare, as well as our ability to identify and invest in high-growth areas early, sets us apart. In our last three funds, Montagu IV, V and VI, healthcare investments made up more than 40% of each fund, and more than 50% in the case of Fund IV – this has always been a significant part of what we do.

We look for businesses that are differentiated with hard-to-replicate know-hows, which is the flipside of complexity, and most of our deals are carve-outs or primary buyouts. Once partnered, we prioritise building strong relationships with management teams and focusing on patients first to drive innovation and growth.

Finally, we have a rigorous approach to due diligence and risk management, which helps us mitigate potential challenges and maximise returns for our investors.

 

 

  • What specific trends in the healthcare sector are you most focused on?

Jabalot: There are several global trends in healthcare that we are particularly focused on. First is the growing decentralisation of healthcare, which involves providing more care outside of hospitals and clinics, including remote home monitoring and decentralised clinical trials for new drugs, such as our investment in Nemera, which designs and manufactures drug delivery devices for the self-administration of drugs by patients. The focus on ‘ageing well’ is another trend, illustrated by our 2022 investment in HTL Biotechnology, the world leader in providing critical pharmaceutical-grade biopolymers used in aesthetics and other medical applications.

Another interesting trend is innovation in clinical treatments, such as minimally invasive surgery, robotics, implants, cell and gene therapy, and immuno-oncology. We are also excited about the potential for AI and machine learning to facilitate early diagnostics and predictive medicine. These trends provide both defensive characteristics and opportunities for significant returns on investment.

  • Which healthcare subsectors do you focus on and why?

Jabalot: Our focus within the healthcare sector has historically been on medtech, including surgical implants and surgical instruments, such as our respective investments in RTI Surgical and Intech in 2020 and 2021, and medical devices such as insulin pens and asthma inhalers. We have also looked at diagnostics and pharma products, and artificial insemination for the veterinary market with our 2021 investment in IMV Technologies.
Our approach is to identify positive long-term drivers and invest in companies that are at the forefront of these trends. Intech, which specialises in surgical instruments for robotics, aligns with the trend towards innovation in clinical treatment. Overall, our focus within the healthcare sector is broad, but we partner with innovative companies that are well positioned to take advantage of positive long-term trends.

 

  • Can you give us a quick overview of how you work with your Full Potential Partners’ team and the management teams of your portfolio companies?

Tim Cochrane: Most of our deals tend to be carve-outs. We’re investing in companies that are growing fast and often want to expand internationally, launch new products, optimise their processes and take costs out. That means we’ll spend the first period of time with the management team putting together a plan for the business, articulating how we’re going to work with the CEO and their team to create value.

Montagu has completed 28 carve-outs since 2002.

Tim Cochrane, Partner & Head of Full Potential Partners, Montagu

  • Are there any specific considerations you need to mitigate during a carve-out process, and what are the major risks when investing in the sector?

Cochrane: There are a lot of complexities in a carve-out process. The main challenge is to fully understand what you are acquiring and what you need to have a standalone business. This involves the regulatory team, finance, IT operations, sales and marketing. It’s important to assess the cost base and to make the right assumptions around what is required for the standalone cost base, as well as the one-off costs to separate the business. Underestimating costs can have a huge impact on the return of the business, and underestimating regulatory issues can also have a significant impact.

Another challenge is that the management team may have never done a carve-out before, so finding talent to help manage the process and separate the business is important; you may need to appoint an interim management team to help the CEO manage the process on a short-term basis. It’s also important to have a permanent solution for those roles.
Montagu has completed 28 carve-outs during the last couple of years, and we have a detailed playbook on how to diagnose the cost base and what is required to ensure the business can successfully stand alone. We have a large network of talent that we use repeatedly for different carve-outs, and a track record of delivering on budget and on time, giving us comfort and confidence in our underwriting case.

 

Jabalot: The healthcare sector is heavily regulated, and this creates considerable risk. Regulations touch everything, from commercial relationships with customers or suppliers to product innovation, quality standards, and manufacturing practices. Despite this, the sector is still attractive to investors, as the complexity and regulations create differentiation among businesses. Montagu looks for businesses that bring something unique to the table and have a right to exist long term. The company scouts the market for opportunities and meets with potential sellers and management teams to understand their ecosystem and business evolution.

 

Cochrane: Despite the complexity of the sector, Montagu’s distinctive investment approach – by driving growth through partnership – ensures we can continue to thrive as a carve-out and sector specialist, bringing more to the table than just financial backing. We will continue to leverage our playbook and experience to help ensure the next generation of healthcare innovators reach their full potential.

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Royal Buisman acquired by Nactarome

Bencis

Amsterdam – On 31 March 2023, the shareholder of Royal Buisman (or the “Company”) entered into a definitive agreement to sell the Company to Nactarome. The sale follows the carve-out of Royal Buisman from its ultimate parent Prinsen Berning, a portfolio company of Bencis Capital Partners. Current management will continue in its position and looks forward to the next growth journey together with its new partner.

Royal Buisman is an established producer of natural caramelised ingredients for the food and beverage industry.
International customers use its products to improve the taste and intensify the natural colour of their products.

Headquartered in Zwartsluis, The Netherlands, Royal Buisman leverages 150 years of knowledge and expertise
in the field of caramelised sugars, enriching sugars into 100% pure and natural caramel ingredients for B2B food
and beverage producers. The Company produces dry powder and liquid caramel ingredients that strengthen the
‘signature’ of a wide range of bakery, instant hot drinks, meat, meat replacers and savoury food products as well
as (alcoholic) beverages. Royal Buisman’s products deliver taste, aroma, colour and texture enhancement to its
customers, providing a unique experience for end-consumers and a cost-effective and natural ’’clean-label” alternative.

Royal Buisman was acquired in 2016 by Prinsen Berning, a group that is ultimately controlled by Bencis Capital
Partners. While the coffee powder business of Royal Buisman was integrated within the group, the natural
caramelised ingredients production remained in Zwartsluis as an independent subsidiary. Since the focus of the
group shifted to the B2B active nutrition segment, Prinsen Berning decided to sell Royal Buisman.

With the acquisition, Nactarome further broadens its product assortment of natural ingredients for speciality
products. Furthermore, the company strengthens its customer base with blue-chip food and beverage
companies, who are primarily based in Europe. Royal Buisman and Nactarome envisage strong collaborative
opportunities in several end-markets as well as diversifying the customer base of the Company. Nactarome has
a strong foothold in Asian markets, that Royal Buisman could benefit from.

The sale of Royal Buisman was overseen by Squarefield, a Food & Agri focused corporate finance advisor with
offices in Amsterdam, Frankfurt, and Antwerp.

Robert Hoopman – CEO Royal Buisman: “The Buisman team is excited to become part of the Nactarome group,
an organisation that is well-known in the market for its focus on high-quality natural ingredients. Our products
are complementary to the existing assortment of Nactarome and we share the same values and strategy. We are
thankful for Squarefield’s long-term support and in-depth knowledge of the ingredients market.”

Renske Vriend – Investment Director Bencis Capital Partners: “This transaction benefits the strategy of both
parties involved. On the one hand Prinsen Berning can have a more focused approach on the active nutrition
market, and on the other hand, Royal Buisman can continue its strategy of offering high-quality natural
ingredients to global blue-chip customers as part of a dedicated functional ingredients supplier. Our cooperation
with Squarefield went as expected, Squarefield is a long-term partner to Bencis in global food and agri.”

 

About Royal Buisman

Royal Buisman (www.royalbuisman.com) is a supplier of natural caramelised ingredients for the international
food and beverage industry. The Company is a market leading expert in natural, clean label caramel ingredients
that are used in bread, hot drinks, savoury & convenience, fine bakery and meat & meat replacer products. Royal
Buisman is headquartered in Zwartsluis, The Netherlands.

About Nactarome

Nactarome (www.nactarome.eu) is a producer of colours, flavours and ingredients for the food, beverage and life
sciences industries. It has a strong European presence with specialised manufacturing plants and commercial
offices and serves over 4,500 customers across 100 countries worldwide. The company employs more than 500
employees worldwide and is headquartered in Milan, Italy. Nactarome is a portfolio company of TA Associates, a
US-based private equity fund with offices around the world.

About Bencis Capital Partners

Bencis is an independent investment company that supports business owners and management teams in
achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf, Bencis has been
investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999.

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FiVerity Announces $4 Million Financing Round to Launch Anti-Fraud Collaboration with Banks and CUs

Fin Capital

Appoints Veteran Banking Investor John Clausen to Board of Directors 

BOSTON – April 20, 2023—FiVerity, creators of the Anti-Fraud Collaboration platform, today announced a $4 million seed financing round, led by Mendon Venture Partners, a venture capital investment and strategic advisory firm focused on the intersection of financial technology companies and traditional banks. Joining Mendon on the cap table are FinCapital, Mendoza Ventures, Service Provider Capital, and Grasshopper Bank.

john_clausen

As part of the investment, John Clausen, a Partner at Mendon Venture Partners, veteran financial services investor, and former N.Y. Federal Reserve Bank regulator, will join FiVerity’s board of directors.

“Financial institutions are under attack from fraudsters who are upping their game by employing increasingly sophisticated tactics, resulting in significant financial losses, reputational damage, and compliance risks,” said Clausen. “We strongly agree with FiVerity’s view that stopping fraud requires a twofold approach that combines actionable intelligence and a collaborative model, enabling businesses to act swiftly. Now, with this infusion of capital, the team can continue evolving its offerings to keep customers ahead of the ever-evolving digital fraud landscape.”

According to Alloy’s Annual State of Fraud Benchmark Report, 91% of respondents said that fraud rates have increased at their organization year-over-year. But this growth is only part of the challenge. Fraudsters have also steadily increased their use of sophisticated automation and AI-based tools, making it far more difficult for financial institutions to quickly identify incidents of fraud. The failure to quickly identify and stop fraud can result in legal repercussions and the loss of important customer relationships.

With this investment, FiVerity will expand its network of information providers and data, while introducing advanced machine learning algorithms. These will identify the methods fraudsters are using, and compare patterns against those within a financial institution’s systems. It is through this unique approach that FiVerity not only accelerates the detection of fraudulent accounts, but the sharing of these threats within the larger financial community in order to protect personally identifiable information (PII) and stop these activities before significant damage is inflicted.

FiVerity has worked closely with financial institutions, regulators and organizations such as the U.S. Federal Reserve and FinCEN throughout the development of its innovative Anti-Fraud Collaboration platform to better understand the needs of the industry and ensure they can be addressed through its solution. FiVerity led a team in the 2022 FDCI/FinCEN Tech Sprint that was recognized as the top solution for effectiveness and impact in digital identity proofing for remote customers.

“Fraudsters have become increasingly innovative, turning to new AI and automation techniques to successfully deceive financial institutions into granting loans, opening accounts, and approving transactions,” said Greg Woolf, CEO of FiVerity. “This latest investment provides the additional resources needed to expand our offerings with new real-time collaboration and information capabilities that allow financial institutions to take a proactive approach to fraud detection – identifying fraudulent activity before it impacts their business, like an ‘antivirus for fraud’.”

Financial institutions, data providers, government agencies, and other stakeholders interested in learning more about the Digital Fraud Network can visit www.fiverity.com or contact info@fiverity.com.

About FiVerity
FiVerity’s mission is to fight fraud with the power of collaboration. The FiVerity Anti-Fraud Collaboration platform enables real-time information sharing among financial institutions, data providers, and anti-fraud solutions through the anonymized exchange of fraud intelligence. FiVerity accelerates the detection and prevention of both known and unknown fraud, delivering proactive alerts, transparent risk scoring, and automated fraud classification. Government regulators have recognized FiVerity’s unique approach to fighting fraud for its effectiveness and impact in reducing industry-wide fraud. For more information, visit www.fiverity.com and follow us on LinkedIn and Twitter.

About Mendon Venture Partners
Mendon Venture Partners is a venture capital investment firm focused on the intersection of innovative technology and traditional banks. Mendon Ventures BankTech Fund is dedicated to investing in technologies that predominantly serve incumbent regional and community banks across foundational pillars of financial services including data & analytics, automation, payments, core banking & processing, and risk & compliance. Mendon Ventures intends to realize and add value through its unique approach, aligned partnerships, rigorous analytics, and trusted advisory role among market participants.

Media Contact:
Jeff Drew
Guyer Group for FiVerity
fiverity@guyergroup.com  
P: (617) 233-5109

SOURCE: FiVerity

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