Geolocation service provider GeoComply announced that private equity businesses Blackstone Growth and Atairos will each invest in the company.
The deal represents GeoComply’s first commitment of institutional capital, which will aid with the company’s growth moving forward. The supplier did not reveal the size of the investment.
“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,” said GeoComply founder and Chairman Anna Sainsbury.
“GeoComply has received countless investment inquiries over the past few years but was in the fortunate position to wait until the right opportunity came along. In Blackstone and Atairos, we found the investors we were looking for. We valued their ability to trust and empower founders like David (Briggs, CEO) and me to maintain our company values as we execute to our fullest potential.”
The development represents Blackstone’s latest venture into the gaming industry, after the company recently announced the acquisition of Australian resort operator Crown Resorts in a multibillion-dollar deal.
Blackstone Managing Director Vishal Amin said, “We are deeply proud to have been selected as GeoComply’s first institutional backers and invest in a clear market leader. Anna and David have built an incredible business, and we are excited to work closely with them as they look to further increase the company’s already strong leadership position into new markets and opportunities.”
Atairos partner Alex Evans added, “We are excited to partner with Anna, David and the entire GeoComply management team, and we look forward to leveraging our experience to help the company continue to scale and expand into new verticals.”
