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28 Jan 2019 07:00
FOR RELEASE ON | 28 January 2019 |
IP Group plc - Portfolio company Featurespace completes £25.0m funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that portfolio company Featurespace Ltd ("Featurespace" or "the Company"), a leading provider of adaptive behavioural analytics for fraud detection and risk management, has completed a £25.0 million fundraising.
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 with significant operational experience across the payments industry, also participated in the round 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.
Following completion, IP Group's direct undiluted beneficial stake of 23.9% in Featurespace is valued at £29.3 million, representing a direct unrealised fair value gain to IP Group of £9.6 million compared with the last round. IP Group committed £4.1 million to the fundraising.
Jon Edington, Partner, Technology, IP Group, said: "Featurespace has gone from strength to strength, having expanded within financial services, and is now working with a wide range of financial institutions across Europe and the US. The company has been recognised with a string of awards including The Queen's Award for Enterprise Innovation as well as having been ranked in the Deloitte Fast 50 two years in a row and is a great example of a high growth technology asset that we have helped nurture. We are therefore delighted to support the team with this fundraising which will help drive further international growth."
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.
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Alan Aubrey, Chief Executive OfficerGreg Smith, Chief Financial OfficerLiz Vaughan-Adams, Communications | +44 (0) 20 7444 0050+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
Charlotte Street Partners |
|
Andrew Wilson | +44 (0) 7810 636995 |
Martha Walsh | +44 (0) 7876 245962 |
Tom Gillingham | +44 (0) 7741 659021 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.
For more information, please visit our website at www.ipgroupplc.com.
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