Market Insights

Mid-Summer Showdown: Friday Dealbook for 7/10/2020

Investments in digital identity continue this week as COVID-19 amps up and cities reconsider re-opening plans. SuperCom received $3.2 million for its identity portfolio, Permutive won $18.5 million for its behavioral biometrics solution, and Veriff earned $15.5 million for its identity verification services.

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The Top Deals Covered by OWI this Week

SuperCom \ supercom.com \ Founded in 1988

SuperCom is an Israel-based provider of traditional and digital identity solutions, advanced IoT and connectivity solutions, and cybersecurity products and solutions, to governments and private and public organizations throughout the world. It is comprised of three main Strategic Business Units: e-Gov; IoT and Connectivity which is the key revenue driver; and Cyber Security. Besides, it also offers a wide range of solutions which include national ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver’s licenses, and electronic voter registration and election management using the common platform. Its geographical segments include Africa, European countries, South America, United States, Israel among others.

The company (NAS: SPCB) received $3.2 million of development capital from undisclosed investors on July 8, 2020, through a private placement. The capital will be used for working capital requirements and further invest in and build its technology products and solutions.

Permutive \ permutive.com \ Founded in 2015

Developer of a data management platform intended to allow publishers to increase their targetable advertising activities. The company’s SaaS-based platform focuses on understanding and recommending content at scale by using behavioral data to help businesses increase conversions, enabling publishers, marketers & digital product managers to customize the user experience in real-time on every device, across every channel.

The company raised $18.5 million of Series B venture funding in a deal led by Octopus Ventures on July 8, 2020. EQT Ventures and other undisclosed investors also participated in the round. The funds will be used for international expansion and growth in North America.

Veriff \ veriff.com \ Founded in 2015

Developer of a SaaS-based identity verification platform designed to make online identity verification service secure. The company’s platform offers a secure authentication, cross-platform technology that aids in detecting fraud as well as recognizes any website or mobile application to verify driver’s licenses, passports, and other identities, enabling the commercial sectors to improve fraud prevention and compliance with KYC regulations.

The company raised $15.5 million of venture funding from Mosaic Ventures, NordicNinja VC, and Change Ventures on July 1, 2020. Y Combinator also participated in the round. The funding will enable the company to accelerate its global growth even further.

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Investor Highlight

Change Ventures \ changeventures.com \ Founded in 2016

Change Ventures is a seed-stage venture capital fund based in the Tallinn, Estonia, and backs Baltic founders anywhere in the world. The firm invests in technology startups with a preference for B2B and SaaS businesses.

Active Portfolio – 15

Investments (TTM) – 9

Med. Round Amount – $1.02M

Med. Valuation – n/a

# of Exits – n/a

Deal History

In the past year, Change Ventures has invested in the following 4 identity companies:

AskRobin

MeetFrank

Planet42

Veriff

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Source: PitchBook Data Inc. with proprietary keyword searches set by OWI Analysts