GeoComply Revenue, Valuation, Funding & Investors

GeoComply is valued at $1B as of March 2021, a 10.0x revenue multiple. GeoComply revenue was $100M, as disclosed with its latest round.

Last GeoComply valuation

$1B

Strategic investment · Mar 2021

Last GeoComply funding round

Undisclosed stage

Amount undisclosed · Jan 2023

GeoComply revenue

$100M

Strategic investment · Mar 2021

Key investors in GeoComply

GeoComply Overview

About GeoComply

GeoComply is a Vancouver-based fraud-prevention and compliance technology company whose software verifies where online users are really located. It was founded in 2011 by Anna Sainsbury and David Briggs and grew by giving regulated online gambling operators a way to prove that players are physically inside jurisdictions where betting is licensed. Its products include GeoComply Core for geolocation compliance and anti-fraud, IDComply for know-your-customer and anti-money-laundering checks, PinPoint for on-property geofencing, GeoGuard for VPN and proxy detection, the GeoComply Chargeback Integrator and OneComply for licensing management. Beyond gaming it serves financial services and cryptocurrency firms and media and entertainment companies, which use GeoGuard, launched as a separate division in April 2017, to enforce territorial content rights. GeoComply sells these services to businesses on a recurring-fee basis. In 2021 Blackstone Growth and Atairos became its first institutional investors, taking minority stakes at a valuation above $1 billion. Sainsbury was chief executive from 2011 to 2018, when Briggs took over, and returned to the role in January 2022; she is now chairman.


Founded

2011

HQ

CanadaVancouver

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$100M (Mar 2021)

Valuation

$1B (Mar 2021)

GeoComply Valuation

GeoComply is currently valued at $1B, based on its strategic investment round in March 2021. Read the announcement ↗

The round was led by Blackstone, with participation from Atairos.

GeoComply valuation by funding round

GeoComply valuation by funding round
DateStageValuationRevenue Multiple
Mar 2021Strategic investment$1B10.0x

GeoComply Revenue

GeoComply's latest recorded revenue is $100M, as of its strategic investment round in March 2021. At a $1B valuation, that implies a 10.0x revenue multiple.

GeoComply revenue by funding round

GeoComply revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2021$100M$1B10.0xStrategic investment

* 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.

GeoComply Funding History

GeoComply has raised 2 funding rounds.

GeoComply's first fundraising round was a strategic investment round in March 2021. The most recent completed round was a undisclosed-stage round in January 2023.

GeoComply funding rounds
DateStageInvestorsValuationDeal Summary
Jan 2023Undisclosed stageNorwest (lead); Arctos Partners (lead)-GeoComply, the Vancouver-based geolocation security provider, announced on 25 January 2023 that it had secured minority investments from funds managed by Norwest Venture Partners and Arctos Sports Partners. Financial terms were not disclosed. The company said the investors would support its growth in its core regulated online gaming and sports betting markets and help accelerate its expansion into financial services and media rights management. The investments came 18 months after GeoComply brought on Blackstone Growth as its first institutional investor in a 2021 round that also included Atairos. Co-founder and chief executive Anna Sainsbury said the company would take its Ground Truth Geolocation platform into broader technology markets and continue to hire despite a difficult environment for technology companies. GeoComply was founded in 2011 and provides geolocation compliance, fraud prevention and digital identity tools that verify where users are located; its platform handles more than one billion transactions a month across hundreds of millions of devices. Its customers include online gaming and sports betting operators, streaming services and financial companies, and the company put its total addressable market at $80 billion.
Mar 2021Strategic investmentBlackstone (lead); Atairos$1BGeoComply, the Vancouver-based provider of geolocation compliance and fraud-prevention technology, announced in March 2021 a definitive agreement for minority investments led by funds managed by Blackstone Growth, with a further investment from Atairos. The deal was the first commitment of institutional capital to the company, which had until then been owned by its founders. Terms of the investments were not disclosed, though the business was later reported to be valued at more than $1 billion. GeoComply said the capital would support continued growth in its core markets and help accelerate expansion into new verticals. Founder and chairman Anna Sainsbury said the company had received many investment enquiries over the years but had waited for the right partners, and that Blackstone and Atairos would help it take a material leap forward. GeoComply's software verifies the true location of users and detects location spoofing, and it became the standard for regulated online gambling in the United States as states legalised sports betting and iGaming. The company also serves streaming broadcasters and financial services firms that must confirm where customers are located, and it describes itself as part of a new generation of cybersecurity companies built on geolocation data. It was founded in 2011 by Anna Sainsbury and David Briggs.

Who has invested in GeoComply?

4 investors have backed GeoComply across its funding rounds, including Norwest, Blackstone, Arctos Partners and Atairos.

Lead investors include Norwest, Arctos Partners and Blackstone.


GeoComply Investors

Investors in GeoComply by funding rounds participated
InvestorHQRoundsRoleFirst check
BlackstoneUnited StatesNew York City, NY1LeadMar 2021
Arctos PartnersUnited StatesDallas, TX1LeadJan 2023

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Acquisitions by GeoComply

GeoComply has acquired 1 company to date.

Last acquisition by GeoComply was on May 8th 2023. GeoComply acquired OneComply for undisclosed valuation.


Latest Acquisitions by GeoComply

OneComply
Description
OneComply is a cybersecurity firm delivering data encryption, multi-factor authentication, external penetration testing, and backup replication services. Based in the United States, the company targets enterprises with compliance tools for PCI DSS, HIPAA, and NIST standards through automated scanning platforms.
HQ CountryCanada
HQ City
Vancouver
Deal Date8 May 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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GeoComply Competitors

GeoComply competitors include listed companies like Mitek Systems and OneSpan, and private ones like BigID, Sift, Tines and Iru.

Public and private companies comparable to GeoComply
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BigIDUnited StatesNew York City, NYPrivate$100M-$1B10.0x
SiftUnited StatesSan Francisco, CAPrivate--$1B-
TinesIrelandDublinPrivate--$1.1B-
IruUnited StatesMiami, FLPrivate--$850M-
Mitek SystemsUnited StatesUnited StatesPublicly listed$180M$37M$815M3.9x
OneSpanUnited StatesUnited StatesPublicly listed$243M$57M$947M3.6x

GeoComply Public Comps

GeoComply is still privately-owned, but its public comps include Eastcompeace Tech, OneSpan, Rapid7, Riskified, BeiJing Certificate, NSFOCUS, Mitek Systems, AHNLAB, Global Security Experts and Asiainfo Security.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eastcompeace Tech$198M$26M3.9x-29.3x-
OneSpan$243M$57M3.7x3.6x15.8x12.6x
Rapid7$860M$63M1.6x1.6x21.8x8.6x
Riskified$345M($31M)2.7x2.3x(29.9x)26.8x
BeiJing Certificate$126M($12M)6.0x-(63.7x)-
NSFOCUS$382M$37M3.1x2.9x31.8x31.4x
Mitek Systems$180M$37M4.3x3.9x20.8x11.5x
AHNLAB$200M$45M2.9x-12.6x-

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Common questions about GeoComply

When was GeoComply founded?GeoComply was founded in 2011.
Where is GeoComply headquartered?GeoComply is headquartered in Vancouver, Canada.
Is GeoComply publicly listed?No, GeoComply is a private, VC-backed company.
What is GeoComply's valuation?GeoComply was last valued at $1B in its strategic investment round in March 2021.
What was GeoComply's last funding round?GeoComply's last funding round was a undisclosed-stage round in January 2023, led by Norwest and Arctos Partners.
Who are GeoComply's investors?GeoComply's investors include Blackstone, Arctos Partners, Norwest and Atairos.
What is GeoComply's revenue?GeoComply's latest recorded revenue is $100M (March 2021).
What is GeoComply's revenue multiple?GeoComply's latest valuation implies a 10.0x revenue multiple ($1B valuation on $100M of revenue).
Which companies are comparable to GeoComply?Companies comparable to GeoComply include BigID, Sift, Tines, Iru, Mitek Systems and OneSpan.
How many companies has GeoComply acquired?GeoComply has acquired 1 company, including OneComply.

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