{"id":255711,"date":"2023-01-25T19:50:02","date_gmt":"2023-01-26T01:50:02","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=255711"},"modified":"2023-01-26T14:40:44","modified_gmt":"2023-01-26T20:40:44","slug":"geocomply-lands-investments-to-help-tech-company-expand","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/","title":{"rendered":"GeoComply Lands Investments to Help Tech Company Expand"},"content":{"rendered":"

GeoComply announced Wednesday that the company has received funding from venture capital firms. The moves will help the Canadian-based technology firm grow into new segments, the company stated.<\/p>\n

\"GeoComply<\/a>
A portrait of GeoComply Co-Founder and CEO Anna Sainsbury. On Wednesday, GeoComply announced it had received new investments from two capital firms to help the Canadian-based technological solutions provider expand in its current segments and delve into new ones. (Image: GeoComply)<\/figcaption><\/figure>\n

Norwest Venture Partners and Arctos Sports Partners were the firms providing the capital. The amount was not released, but GeoComply said both firms were now minority investors in the company. They\u2019re the second and third firms to invest in the company, following Blackstone, which came on board a year and a half ago.<\/p>\n

GeoComply offers geolocation services to help companies identify fraud and bolster their cybersecurity defenses. Its software has been installed on over 400 million devices and tracks more than 10 billion transactions annually.<\/p>\n

\n

In the sports betting realm, GeoComply ensures that any bets made through an operator are physically taking place within the legal jurisdiction that licenses the sportsbook. It also provides the gaming industry with data snapshots showing online wagering activity<\/a> in various states and for big events like the Super Bowl<\/a>.<\/p>\n<\/div>\n

While the funding will help the company grow in its existing sectors, it is also looking to expand into financial services and media rights.<\/p>\n

\u201cWith their added support, we will take our Ground Truth Geolocation platform into broader technology markets, so these industries can also receive the level of reliability and credibility GeoComply has consistently delivered to our core regulated internet gaming and sports betting clients,\u201d said Anna Sainsbury, GeoComply co-founder and CEO, in a statement. \u201cDespite a challenging tech environment, GeoComply has continued to invest and expand our product and services.\u201d<\/p>\n

‘Natural Alignment’<\/h2>\n

Sainsbury noted that GeoComply has a \u201cnatural alignment\u201d with its new investment partners.<\/p>\n

\n

We can pivot quickly to develop our business in markets they collectively serve, while managing the needs of our existing customers by delivering new products and services,\u201d<\/strong> she said.<\/p>\n<\/blockquote>\n

Norwest is a firm that seeks to invest in companies at various stages of their life cycle. It has provided funding to over 650 companies, and its current portfolio includes more than 200 businesses.<\/p>\n

The firm, which manages more than $12.5 billion in the capital, is based out of the Bay Area and has offices in India and Israel.<\/p>\n

Jon Kossow, a managing partner, said GeoComply is a natural fit as it ensures other companies follow regulations and mitigate risks.<\/p>\n

\u201cAnna and David (Briggs, a cofounder, former CEO and a current director) have built an impressive, profitable business serving the gaming and sports betting market, and we look forward to partnering with them as GeoComply expands into financial services, crypto, and other verticals,\u201d Kossow said.<\/p>\n

Arctos Connected to Pro Sports<\/h2>\n

Arctos has offices in Dallas and New York and works with major professional sports teams in North America and Europe.<\/p>\n

It was the first investment firm to be allowed to execute deals in four of the top North American leagues (MLB, MLS, NBA, and NHL) and has invested in 20 teams or adjacent businesses.<\/strong><\/p>\n

\u201cA robust gaming environment depends on technology that prevents fraud, verifies identity and location, and ensures the safety and security of its users as well as adherence to all relevant laws and regulations. GeoComply is the leader in providing this essential technology,\u201d said Chad Hutchinson, a partner in the firm.<\/p>\n","protected":false},"excerpt":{"rendered":"

GeoComply announced Wednesday that the company has received funding from venture capital firms. The moves will help the Canadian-based technology firm grow into new segments, the company stated. Norwest Venture Partners and Arctos Sports Partners were the firms providing the capital. The amount was not released, but GeoComply said both firms were now minority investors […]<\/p>\n","protected":false},"author":45,"featured_media":255712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,16693],"tags":[82747,82041],"acf":[],"yoast_head":"\nGeoComply Lands Investments to Help Tech Company Expand<\/title>\n<meta name=\"description\" content=\"Norwest Venture Partners and Arctos Sports Partners are the second and third firms to become minority investors in GeoComply\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GeoComply Lands Investments to Help Tech Company Expand\" \/>\n<meta property=\"og:description\" content=\"Norwest Venture Partners and Arctos Sports Partners are the second and third firms to become minority investors in GeoComply\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-26T01:50:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-26T20:40:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Screen-Shot-2023-01-25-at-8.28.54-PM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1360\" \/>\n\t<meta property=\"og:image:height\" content=\"840\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/\",\"url\":\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/\",\"name\":\"GeoComply Lands Investments to Help Tech Company Expand\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Screen-Shot-2023-01-25-at-8.28.54-PM.png\",\"datePublished\":\"2023-01-26T01:50:02+00:00\",\"dateModified\":\"2023-01-26T20:40:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"Norwest Venture Partners and Arctos Sports Partners are the second and third firms to become minority investors in GeoComply\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/geocomply-lands-investments-to-help-tech-company-expand\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Screen-Shot-2023-01-25-at-8.28.54-PM.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/Screen-Shot-2023-01-25-at-8.28.54-PM.png\",\"width\":1360,\"height\":840,\"caption\":\"A portrait of GeoComply Co-Founder and CEO Anna Sainsbury. 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