GeoComply Solutions has secured minority investment funds that are managed by Arctos Sports Partners and Norwest Venture Partners. The company will receive support from both investors as it continues to expand within core markets.
Arctos Partner Chad Hutchinson noted the importance of such an alliance and commended GeoComply for its efforts to combat potential fraud within the gaming industry.
He said: “A 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.
“We are thrilled to partner with Anna and the team at GeoComply as they expand operations and bring their technology to new geographies and markets.”
Company Co-Founder and CEO Anna Sainsbury commented: “In a time when society has serious questions about the security of the internet, our technology is focused on restoring digital trust. Eighteen months after bringing on Blackstone as our first institutional investor, we’re very excited to be working with Norwest and Arctos.
“With 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.”
She went on to add that GeoComply has taken careful measures to seek out investment opportunities that will propel the company forward.
Sainsbury concluded by saying: “Despite a challenging tech environment, GeoComply has continued to invest and expand our product and services. Every division of our company is driven by a shared passion to address the evolving challenges facing our communities."
