GeoComply secures dual investment from Blackstone and Atairos
Geo-location specialists look to expand global presence following undisclosed capital injection
GeoComply has secured investments from Blackstone and Atairos as the compliance tech specialist looks to grow the company.
GeoComply provides geo-location data to major igaming operators including DraftKings, FanDuel and MGM, as well as offering its services to the broadcasting and fintech industries.
The investment represents the first commitment of institutional capital into GeoComply and will be used to strengthen its position in its existing markets, as well as facilitating penetration into new ones.
The investment totals from Blackstone and Atairos were not disclosed.
Deutsche Bank Securities served as GeoComply’s financial advisor throughout the process, while Cameron McKenna Nabarro Olswang LLP and Sheppard Mullin acted as legal advisors.
Anna Sainsbury, GeoComply chair, said: “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.
“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,” she added.
Vishal Amin, Blackstone Growth MD, commented: “We believe the company is poised for significant further expansion in the years ahead – particularly given their mission-critical role in delivering compliance software solutions to the fast-growing, global online gaming and sports betting industry.”