IP Group PLC Portfolio co Featurespace completes £25m round
28 January 2019 - 6:00PM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
28 January 2019
FOR RELEASE ON 28 January 2019
IP Group plc - Portfolio company Featurespace completes GBP25.0m
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
GBP25.0 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 GBP29.3 million,
representing a direct unrealised fair value gain to IP Group of
GBP9.6 million compared with the last round. IP Group committed
GBP4.1 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(TM) 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
+44 (0) 20 7444 0050
Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 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.
ENDS
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END
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