Insights

Europe – The World is Watching: Weekly Dealbook

07/08/2021

By: Liminal Team

This week’s deals reflect the market appetite for digital transformation with fundraising activities and market consolidations, especially in Europe and the Middle East, spreading across identity proofing, authentication, biometrics, and fraud prevention. 

 

Notably, AnyVision raised $235 million in venture funding to accelerate its product innovation in edge computing and Access Point AI for optimized touchless access control, video surveillance, and watchlist alerting. Itsme, a digital identity app owned by a consortium of Belgian banks and telecommunication companies, received a €24.7 million ($29.3 million) capital injection. On the acquisition front, Signicat acquired Spanish Electronic IDentification (eID), a digital identity pioneer and world-leading provider of asynchronous video identification services. The acquisition is expected to strengthen Signicat’s European presence and market positioning as a global digital identity and electronic signing solutions provider. 

 

In the public market, Riskified filed to go public on the New York Stock Exchange under the ticker symbol of RSKD on July 1, 2021. The expected offering amount is $100 million.

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Top Deals
Signicat

Signicat is a provider of digital identity management services designed to help customers sign digital documents. The company specializes in verified digital identity solutions offering cross-border, cloud-based electronic identification services and electronic signatures, thereby supporting the full identity journey, from recognition and on-boarding, through login and consent, to making business agreements that stand the test of time. Headquartered in Norway, the company has offices across Europe.

 

This week, Signicat has acquired Spanish Electronic IDentification (eID), a digital identity pioneer and world-leading provider of asynchronous video identification services. With the acquisition, Signicat will strengthen its European presence and take a further step towards becoming the market leader in providing digital identity and electronic signing solutions globally. This is the second major acquisition Signicat has made this year, after buying Encap Security recently in June.

AnyVision

AnyVision is a developer of facial recognition technology designed to shape the future of AI. The company's technology analyzes face recognition results with an open-source intelligence dashboard based on a social network database and reveals contacts, collaborators, and insights about the given target, thereby enabling businesses to get an advanced object and facial recognition technology integrated with their cameras. Headquartered in Israel, the company has offices across the world. 

 

AnyVision raised $235 million in venture funding from Qualcomm Ventures, Robert Bosch, and SoftBank Investment Advisers on July 6, 2021. Lightspeed Venture Partners, DFJ Growth, O.G. Tech, and 2 other investors also participated in the round. The company intends to use the funding to accelerate its product innovation in edge computing and Access Point AI used to optimize touchless access control, video surveillance, and watchlist alerting.

Itsme

Itsme is an operator of a digital authentication software intended to digitally verify identity. It is developed by a consortium of private companies, including Belfius, BNP Paribas Fortis, ING Belgium, KBC, Orange, Proximus, and Telenet. Itsme’s platform offers login and confirmation of online payments, access to online government applications, signing of official documents digitally as well as assigns a unique ID to confirm orders, thus providing privacy to its users while browsing through online portals. The company is based in Belgium.

 

Itsme has received a €24.7 million ($29.3 million) capital injection on July 1, 2021. A €14.5 million ($17.2 million) funding was raised from Federal Participation and Investment Company (FPIM), Belgium's government investment fund, for a 20% stake in the venture. This round also saw investment from six other shareholders, each injecting €1.7 million ($2 million) into the app.

Investor Highlights
Qualcomm Ventures

Qualcomm Ventures is a corporate venture capital arm of Qualcomm Incorporated, headquartered in San Diego, California. The firm seeks to invest in companies operating in artificial intelligence, automotive, networking, digital health, enterprise, mobile, internet of things (IoT), and enterprise sectors.

 

Active Portfolio - 201

Investments (TTM) - 38

Med. Round Amount - $12.00M

Med. Valuation - $68.58M

# of Exits - 196

 

AnyVision

Idwall

SentinelOne 

floLIVE

Wiliot

Public Highlights
Riskified

Riskified develops an eCommerce fraud prevention technology to turn fraud management into a growth engine for online retailers. The company's technology offers machine learning algorithms and proprietary behavioral analytics that protects the bottom line and customer experience as well as offers an adaptive approach to stay ahead of the constantly changing fraud landscape, enabling merchants to protect themselves from fraud and offer better customer experience, lowering overhead cost and maximizing their revenue.

 

The company filed to go public on the New York Stock Exchange under the ticker symbol of RSKD on July 1, 2021. The expected offering amount is $100 million. Previously, the company raised $3.37 million of venture funding from Aglaé Ventures and other undisclosed investors on March 12, 2021.

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