Blackstone leads debut investment in GeoComply

Blackstone Growth has led an investment in GeoComply, alongside Atairos, in the geolocation and compliance technology developers debut institutional investment.

The terms of the transaction have not been confirmed, but it has been disclosed that both Blackstone and Atairos will acquire minority stakes in GeoComply, with the partnership still subject to regulatory approval.

Both firms will focus on contributing institutional venture capital into GeoComply, in order to support its expansion into new verticals as well as maintain its growth in its core markets.

“We are deeply proud to have been selected as GeoComply’s first institutional backers and invest in a clear market leader,” remarked Vishal Amin, a Managing Director at Blackstone Growth.

“We believe the company is poised for significant further expansion in the years ahead – particularly given their mission-critical role in delivering compliance software solutions to the fast-growing, global online gaming and sports betting industry. 

“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.”

GeoComply utilises geolocation data to assist firms with making risk-based decisions, and maintains a number of agreements with international betting operators, including DraftKingsand Scientific Gaming, has developed a presence in the US states of Colorado and Tennessee.

“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 Anna Sainsbury, Founder and Chairman of GeoComply. 

“GeoComply has received countless investment enquiries 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, not only with deep insight into Software and Gaming, but also the Financial Services & Broadcasting verticals.”

“We valued their ability to trust and empower founders like David and me to maintain our company values as we execute to our fullest potential. Their integrity and professionalism throughout the process was exceptional and we welcome their expertise and guidance as we grow our business and move into new markets.”

Meanwhile, Atarios focuses on investing capital into growth-orientated enterprises across various different markets, and has generated over $5 billion in equity capital since launching in 2016. 

“GeoComply continues to innovate and provide its clients with a first-class, mission critical service,” remarked Alex Evans, Partner at Atairos. “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.”