OWI has been tracking rising investor interest in funding platforms that are increasing their offerings for identity and document verification, fighting for market share through
Acquiring a Taste for Identity Tech: Friday Dealbook
Notable deals this week reflect a growing trend of acquisition by tech incumbents to further consolidate market share and strengthen their ability to tackle digital identity solution segments. This is highlighted not only by Galvanize’s agreement to be acquired by Diligent via a $1 billion LBO, but also by Liveramp’s acquisition of DataFleets (to bring a consumer privacy angle to data analytics) and Sailpoint’s acquisition of Intello, an early stage startup that helps deepen the former’s ability to offer richer governance and identity administration insights. Stytch also is emblematic of the increased money moving in the space, securing $20 million from Thrive Capital (at a $200 million valuation) to reduce friction in authentication via magic links – months after it raised at a $25 million valuation.
Top Deals This Week
Developer of Saas-based governance, risk management and compliance (GRC) software. The company's software aligns the activities of operations, finance, risk, compliance and audit teams to deliver enhanced governance and reliable execution of organizational strategy, enabling companies to give more time to identifying and managing the highest-impact risks.
The company has entered into a definitive agreement to be acquired by Diligent, via its financial sponsors The Blackstone Group, Insight Partners, Golub Capital, Golub Capital BDC and Golub Capital BDC, through a $1 billion LBO on February 24, 2021.
Developer of an analytics platform designed to help organizations to overcome the struggle between data privacy and innovation. The company's platform provides data scientists and developers with a data fleet that allows them to create analytics, ML models, and applications on highly sensitive data sets without having explicit access to the data, helping organizations maintain high data protection standards for compliance while simultaneously accelerating data science initiatives.
The company was acquired by LiveRamp Holdings (NYS: RAMP) for $68 million on February 18, 2021. Through acquiring DataFleets and embedding its technology into LiveRamp’s products and platforms, Liveramp positions its data collaboration solutions with a consumer privacy angle at the forefront.
Provider of an authentication software designed to give a user infrastructure for modern applications. The company's software offers one-time passcode, magic link and pin for secure user authentication along with features such as one-click login and code verification, enabling clients to seamlessly onboard, authenticate, and engage users while improving security.
The company is reportedly in the process of raising $20 million of Series A venture funding in a deal led by Thrive Capital on February 19, 2021, putting the company's pre-money valuation at $180 million. Other undisclosed investors will also participate in the round.
Founded in 1989, ABRY Partners is a private equity firm based in Boston, Massachusetts. The firm seeks to invest in the commercial software, commercial services, and media sectors.
Active Portfolio - 60
Investments (TTM) - 29
Med. Round Amount - $80.00M
Med. Valuation - $139.50M
# of Exits - 140
SailPoint Technologies Holdings Inc is a US-based company which acts as a provider of enterprise identity governance solutions. It mainly designs, develops, and markets identity governance software that helps organizations govern user access to critical systems and data. The company offers on-premises software and cloud-based solutions, which provide organizations with the intelligence required to empower users and govern their access to applications and data across hybrid IT (Information Technology) environments, whether comprising on-premises, cloud or mobile applications. The company markets its products and services throughout North America, Europe, and the Asia Pacific regions. Most of the company's revenue comes from the United States.
The company (NYS:SAIL) is set to acquire Intello, an early-stage SaaS management company that helps organizations to discover, manage, and secure SaaS applications. The amount of the deal was not disclosed. The acquisition will enable SailPoint to expand its offerings: specifically, to gain greater insight into managing SaaS apps undergirding a company’s infrastructure and then extend the right security controls to ensure only the right people have access.
The biggest deals that took place this past week highlight a growing trend of tech players increasing their valuations rapidly by raising large rounds of
Following a rapid-fire few weeks in the identity investment market, we saw movement slow down as we reached the end of Q1. This week, investors
This week’s most impactful deals reflect investor interest in funding platforms increasing their offerings for identity and document verification, and KYC use cases. Most notably,
Investors in this week’s deals reflect a market desire to fund solutions that better secure data privacy by providing authentication and cybersecurity use cases. Socure
Investors in this week’s deals reflect a market desire to fund solutions to better secure endpoints connected across the cloud and lessen the manual burden