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- BioCatch
BioCatch Acquisition, Valuation, Funding & Investors
BioCatch was acquired by Visa for $2.4B in August 2026, a 13.0x multiple on $185M of revenue.
BioCatch revenue at acquisition
$185M
Last twelve months · Aug 2026
BioCatch revenue multiple at acquisition
13.0x
EV/Revenue · Aug 2026
Cumulative funding BioCatch raised
$213M
across 6 funding rounds
About BioCatch
BioCatch is an Israel-headquartered leader in behavioral biometrics, analyzing users' physical and cognitive online behaviors to combat fraud. Financial institutions worldwide deploy its technology, backed by over 60 patents, to enhance digital transformation and protect assets.
Founded
2011
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Nov 2023)
Valuation
$1B (Nov 2023)
BioCatch Acquisition
BioCatch was acquired by Visa for $2.4B on 2 August 2026.
The acquisition price implies a 13.0x revenue multiple on $185M of revenue.
Before the acquisition BioCatch had raised $213M across 6 funding rounds.
Visa agreed to acquire BioCatch for USD 2.4 billion in cash, with the transaction announced on August 3, 2026 and expected to close in Visa’s fiscal second quarter of 2027. The seller is BioCatch’s shareholder group led by funds advised by Permira, which first invested in BioCatch in April 2023 and later took a majority stake; the deal is structured as a cash acquisition of BioCatch’s common equity. Visa said the acquisition strengthens its fraud-prevention and cybersecurity capabilities as AI-driven scams and account takeovers increase, adding a fraud-detection platform that uses artificial intelligence to identify suspicious activity. At the end of 2025, BioCatch exceeded USD 185 million in annual recurring revenue. The company is described as an Israeli fraud-detection and fraud-reduction platform focused on helping banks and payment firms detect fraud and protect accounts.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 2 Aug 2026 | Strategic M&A | $2.4B | 13.0x |
BioCatch Valuation
BioCatch is currently valued at $1B, based on its secondary sale in November 2023.
The $70M round was led by Sapphire Ventures.
BioCatch's valuation has moved from $1.3B at its secondary sale in May 2023 to $1B in November 2023, across 2 priced rounds.
BioCatch valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2023 | Secondary | $1B | 10.0x |
| May 2023 | Secondary | $1.3B | 13.0x |
BioCatch Revenue
BioCatch's latest recorded revenue is $100M, as of its secondary sale in November 2023. At a $1B valuation, that implies a 10.0x revenue multiple.
Revenue moved from $100M in May 2023 to $100M in November 2023, while the revenue multiple moved from 13.0x to 10.0x.
BioCatch revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2023 | $100M | $1B | 10.0x | Secondary |
| May 2023 | $100M | $1.3B | 13.0x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
BioCatch Funding History
BioCatch has raised a total of $213M across 6 funding rounds, plus 2 secondary share sales.
BioCatch's first fundraising round was a $1M seed round in September 2013. The most recent completed round was a $20M Series C in September 2020.
BioCatch funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2023 | Secondary | Sapphire Ventures (lead) | $70M | $1B | BioCatch develops software for identifying and preventing bank fraud and money laundering using behavioral biometric intelligence. In a secondary transaction completed one day before the Hamas attack on November 20, 2023, Sapphire Ventures invested around $70 million at a company valuation exceeding $1 billion, marking BioCatch's entry into unicorn status. This was the second major secondary deal for BioCatch in 2023, following Permira Growth Opportunities' $40 million purchase in May at a valuation near $1 billion. BioCatch crossed the $100 million ARR milestone in early November 2023, achieving 49% ARR growth for fiscal year 2023, along with cash flow and EBITDA profitability. BioCatch has raised more than $230 million total from investors including Barclays, Citi, HSBC, Bain Capital, Maverick Ventures, and Macquarie Capital. The company serves over 190 financial institutions globally, including more than 30 of the world's 100 largest banks, and prevented over $3.5 billion in fraud since 2016. |
| May 2023 | Secondary | Permira (lead) | $40M | $1.3B | BioCatch is an Israeli startup that developed a system for fraud detection and financial crime prevention powered by behavioral biometric intelligence, serving over 190 financial institutions globally, including more than 30 of the world's largest 100 banks. Permira Growth Opportunities II acquired a 60% majority stake in BioCatch for around $750 million in a secondary transaction primarily from Bain Capital Tech Opportunities and Maverick Ventures, valuing the company at $1.3 billion. Existing shareholders Sapphire Ventures and Macquarie Capital also increased their stakes. This builds on Permira's initial minority investment of $40 million in early 2023 at close to $1 billion valuation, following prior secondary deals in October 2022 and February 2023 at $1 billion. In 2023, BioCatch achieved 49% ARR growth, surpassing the $100 million ARR milestone, and attained EBITDA profitability. The company employs 320 people, half in Israel, and all received new option allocations. The transaction supports BioCatch's global expansion, product roadmap acceleration, and growth in markets like Continental Europe. |
| Sep 2020 | Series C | HSBC; Citigroup; National Australia Bank; Barclays | $20M | - | BioCatch is an Israeli-founded cybersecurity company specializing in behavioral biometrics for digital fraud detection, consumer protection, and preventing online fraud and cyber threats in financial institutions. The company announced on September 30, 2020, that Barclays, Citi, HSBC, and National Australia Bank (NAB) invested $20 million, extending its Series C round to a total of $168 million. This followed participation from Industry Ventures, American Express Ventures, CreditEase, Maverick Ventures, and OurCrowd, with Bain Capital leading the prior primary tranche of about $145-148 million. The investment led to the formation of the BioCatch Client Innovation Board with these banks to advance fraud prevention innovations. BioCatch's technology analyzes user online behavior to distinguish legitimate customers from fraudsters, bots, and credential stuffing attempts, serving banks and enterprises globally. By 2020, it had established strong traction with major financial clients, though specific revenue or ARR figures near the round date are not disclosed in sources. The round supported expansion and product development in behavioral intelligence for fraud and financial crime prevention. Post-2020, BioCatch continued growth, achieving unicorn status in 2023 via a $70 million secondary from Sapphire Ventures at over $1 billion valuation, followed by Permira Growth Opportunities acquiring a majority stake in 2024 at $1.3 billion enterprise valuation. By end-2023, it reported $100 million yearly revenue pace, 51% growth, 152 clients including 28 of top 100 banks, profitability, and positive cash flow, with over 190 customers by 2024. |
| Apr 2020 | Series C | Bain Capital (lead); Industry Ventures; Amex Ventures; CreditEase; Decacorn Capital; Maverick Ventures; OurCrowd; Bain Capital Ventures; CE Innovation Capital | $145M | - | BioCatch, founded in 2011, is a behavioral biometrics company that analyzes online users' physical and cognitive digital behaviors to detect fraud and protect digital identities. The company pioneered behavioral biometrics technology and operates a cloud service analyzing over 2,000 cognitive parameters to generate unique user profiles. On April 15, 2020, BioCatch announced it had completed a $145 million Series C investment led by Bain Capital Tech Opportunities. The round also included new investor Industry Ventures and existing shareholders American Express Ventures, CreditEase, Maverick Ventures, and OurCrowd. The Series C brought BioCatch's total funding to over $180 million. By the time of the funding round, BioCatch had established itself with over 40 registered patents and counted more than 40 of the world's largest global financial institutions as customers. The company experienced strong growth, with annual recurring revenue increasing 150 percent in 2019, and had recently expanded beyond financial services by signing its first eCommerce client in 2019 and planning public sector launches in 2020. The investment was designed to accelerate BioCatch's growth, broaden its product offerings, and support expansion into new verticals beyond finance, including fraud detection and prevention across multiple sectors. |
| Mar 2018 | Series B | Maverick Ventures (lead); Kreos Capital; Broadhaven Capital Partners; Amex Ventures; Decacorn Capital; NexStar Partners; OurCrowd; CE Innovation Capital; Joule Ventures | $30M | - | - |
| May 2016 | Series A | Decacorn Capital; OurCrowd | $7M | - | - |
| Jun 2014 | Series A | Blumberg Capital (lead); OurCrowd (lead); Decacorn Capital; Joule Ventures | $10M | - | - |
| Sep 2013 | Seed | Joule Ventures (lead) | $1M | - | - |
Who has invested in BioCatch?
20 investors have backed BioCatch across its funding rounds, including OurCrowd, Decacorn Capital, Joule Ventures, Amex Ventures, Maverick Ventures and CE Innovation Capital.
Lead investors include Sapphire Ventures, Permira, Bain Capital, Maverick Ventures, Blumberg Capital and 2 other investors.
BioCatch Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Jun 2014 | ||
| 4 | Lead | Jun 2014 | ||
| 3 | Lead | Sep 2013 | ||
| 2 | Participant | Mar 2018 | ||
| 2 | Lead | Mar 2018 | ||
| 2 | Participant | Mar 2018 | ||
| 1 | Lead | May 2023 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Lead | Jun 2014 | ||
| 1 | Participant | Sep 2020 | ||
| 1 | Participant | Mar 2018 | ||
| 1 | Participant | Mar 2018 | ||
| 1 | Participant | Sep 2020 | ||
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Start Free TrialAcquisitions by BioCatch
BioCatch has acquired 1 company to date.
Last acquisition by BioCatch was on February 11th 2020. BioCatch acquired AimBrain for undisclosed valuation.
Latest Acquisitions by BioCatch
| Description | AimBrain is a behavioral biometrics company that deploys anomaly detection alongside facial, voice, and video authentication modules. Its solutions combat fraudulent account creation, account takeovers, and ensure liveness detection for KYC, AML, and PSD2 compliance. In May 2018, AimBrain introduced AimBrain On Demand, a free dashboard offering 1,000 monthly API calls for facial, voice, or video/audio verification. The proprietary portfolio relies on patented processes and ensemble learning to identify fraud missed by competitors. Clients span Tier 1 banks, digital and P2P lenders, wealth managers, cloud providers, and fintech firms across London and global markets. |
| HQ Country | |
| HQ City | London |
| Deal Date | 11 Feb 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all BioCatch acquisitions and their M&A valuation multiples. Start Free Trial | |
BioCatch Competitors
BioCatch competitors include listed companies like Mitek Systems and State Grid Yingda, and private ones like Transmit Security, Thought Machine, Feedzai and Claroty.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $100M | - | $2.7B | 27.4x | ||
| Publicly listed | $180M | $37M | $781M | 3.7x | ||
| Private | $63M | - | $2.7B | 42.9x | ||
| Private | - | - | $2B | - | ||
| Private | $200M | - | $3B | 15.0x | ||
| Publicly listed | $1.8B | $718M | $4.2B | 0.6x |
BioCatch Public Comps
BioCatch is no longer listed, but its public comps include Tieto, Venustech Group, Servyou Software Group, Ncino, Diebold Nixdorf, iFAST Corp, QiAnXin, Alkami Technology, Intapp and A10 Networks.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $186M | 1.3x | 1.4x | 15.2x | 7.9x | |||
| $349M | ($60M) | 6.6x | 6.0x | (38.4x) | (176057.4x) | |||
| $306M | $35M | 7.4x | 6.6x | 64.6x | 44.3x | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
| $3.8B | $329M | 0.7x | 0.7x | 8.6x | 5.5x | |||
| $349M | $106M | 3.7x | 2.7x | 12.2x | 8.9x | |||
| $655M | ($147M) | 4.6x | 4.5x | (20.4x) | (41.4x) | |||
| $444M | ($27M) | 5.1x | 4.5x | (85.4x) | 26.5x | |||
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Common questions about BioCatch
| When was BioCatch founded? | BioCatch was founded in 2011. |
| Where is BioCatch headquartered? | BioCatch is headquartered in Tel Aviv, Israel. |
| Is BioCatch publicly listed? | No, BioCatch was acquired by Visa in August 2026. |
| Who acquired BioCatch? | BioCatch was acquired by Visa in August 2026. |
| How much was BioCatch acquired for? | BioCatch was acquired for $2.4B in August 2026, a 13.0x revenue multiple. |
| What is BioCatch's valuation? | BioCatch was last valued at $1B in its secondary sale in November 2023. |
| How much funding has BioCatch raised? | BioCatch has raised $213M across 6 funding rounds. |
| What was BioCatch's last funding round? | BioCatch's last funding round was a $20M Series C in September 2020. |
| Who are BioCatch's investors? | BioCatch's investors include Decacorn Capital, OurCrowd, Joule Ventures, Amex Ventures, Maverick Ventures, CE Innovation Capital, Permira, Industry Ventures, Blumberg Capital, HSBC and 10 others. |
| What is BioCatch's revenue? | BioCatch's latest recorded revenue is $100M (November 2023). |
| What is BioCatch's revenue multiple? | BioCatch's latest valuation implies a 10.0x revenue multiple ($1B valuation on $100M of revenue). |
| Which companies are comparable to BioCatch? | Companies comparable to BioCatch include Transmit Security, Mitek Systems, Thought Machine, Feedzai, Claroty and State Grid Yingda. |
| How many companies has BioCatch acquired? | BioCatch has acquired 1 company, including AimBrain. |
See companies similar to BioCatch
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