Blackstone, Atairos Invest In Geolocation Security Firm GeoComply

Blackstone, Atairos Invest In GeoComply

GeoComply Solutions has received minority investments from funds managed by Blackstone and Atairos, the company’s first institutional investors, according to a Tuesday (March 23) press release.

The investments will support the company’s growth and expansion into new verticals, the release stated. Amounts and terms of the investments were not disclosed.

GeoComply uses geolocation data to help tech companies, including those in online gaming, broadcasting and FinTech, “make better risk-based decisions” in order to fight fraud, according to the release.

The company also announced in a separate press release Thursday (March 25) that it has named Tim White as general manager of its FinTech and over the top (OTT) streaming business. White will lead the expansion of the company’s suite of solutions and will manage its international partner program.

White previously served as chief partnership officer at global fraud prevention provider Emailage, the release stated.

“With fraud increasing worldwide, GeoComply’s geolocation technology has an extremely important role to play in empowering the future of digital trust, whether that’s to protect a content rightsholder from geo-piracy or to stop a cybercriminal from committing financial crimes,” White said in the release.

Cybercriminals hide their location using a variety of methods, presenting a challenge for broadcasters, sports leagues and studios with territorial licensing models, as well as FinTechs and financial services, who follow strict know your customer (KYC) and anti-money laundering (AML) regulations.

“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 GeoComply Founder and Chairman Anna Sainsbury in the first release. “… 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 and broadcasting verticals.”