Vancouver’s GeoComply has secured minority investments by funds managed by Norwest Venture Partners and Arctos Sports Partners.
Founded in 2011, GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user’s true digital identity.
Trusted by leading brands and regulators for the past 10 years, the company’s fraud and compliance solutions are approved by dozens of regulators, are installed on over 400 million devices and analyze over 10 billion transactions a year.
Norwest and Arctos join GeoComply as investors only 18 months after the company welcomed Blackstone and Atairos as its first institutional investors, making it a unicorn. GeoComply declined to disclose the size of this new investment.
GeoComply has been in hyper-growth over the last four years and in 2022 passed USD $100 million in annual revenue.
The investment will help GeoComply to grow into new markets, including expansion into financial services, crypto and media-rights management.
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