28 Jan 2019 07:00
FOR RELEASE ON | 28 January 2019 |
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IP Group plc - Portfolio company Featurespace completes £25.0m funding round
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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.
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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.
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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.
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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."Â
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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, ARICâ„¢ platform, which uses Adaptive Behavioural Analytics to detect anomalies in individual behaviour for fraud and risk management.
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For more information, please contact:
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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 | Â |
Andrew Wilson | +44 (0) 7810 636995 |
Martha Walsh | +44 (0) 7876 245962 |
Tom Gillingham | +44 (0) 7741 659021 |
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Notes for editors
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About IP Group
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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.
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Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.
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For more information, please visit our website at www.ipgroupplc.com.
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ENDS