IP Group's Featurespace completes £25m fundraising

(Sharecast News) - Intellectual Property business investor IP Group said its portfolio company Featurespace, had completed a £25m fundraising.Following completion, IP Group's direct undiluted beneficial stake of 23.9% in Featurespace was valued at £29.3m, representing a direct unrealised fair value gain to IP of £9.6m.IP Group committed £4.1 million to the fundraising. Featurespace provides adaptive behavioural analytics for fraud detection and risk management.Featurespace will use the funds to support international expansion and continued development of its software capabilities as well as supporting the continued distribution of its real-time, ARIC platform, which uses adaptive behavioural analytics to detect anomalies in individual behaviour for fraud and risk management.The round was led by Insight Venture Partners, a New York-based global private equity firm focused on high-growth investments in the technology sector, while MissionOG, a US-based venture capital fund also participated as a new investor.The funding was also supported by existing investors including IP Group plc, Highland Europe, TTV Capital, Robert Sansom and Invoke Capital. Ip Group