Audax invests in Acuant
25 September 2018 16:05 GMT

Audax Private Equity has acquired a controlling interest in digital identity firm Acuant from Insight Venture Partners, Lightview Capital and Egis Capital Partners.

The firms said Acuant believes that identity is the new currency and it should belong to the individual, who may choose when and how to share their personally identifying information or PII. "As PII is increasingly at risk, Acuant serves to find a way to create trusted transactions that put individuals at ease and in control, while simultaneously allowing businesses to address their appropriate level of risk".

Yossi Zekri, President and CEO of Acuant, said, “We selected Audax because they share our vision and commitment to creating frictionless, trusted transactions that protect businesses from unnecessary risk. By bringing on Audax as an investment partner, we now have what we believe are the strategic resources to dramatically accelerate Acuant’s growth. With Audax on board, we plan to accelerate expansion into new product lines while continuing to innovate within our current product portfolio.”

Thus far in 2018, Acuant has exceeded its own record for profitability and sales growth and has expanded its presence with an EU office. The company also added several premier global partners, including a top credit reporting agency, as well as a top-tier global payments company and a leading healthcare diagnostics company.

Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, “Acuant offers a best-in-class product suite that addresses rising transactional fraud in the digital economy. We believe the company is strongly positioned for continued growth as organizations seek solutions to reduce risk, increase revenue and meet compliance objectives. We look forward to supporting Yossi and the entire Acuant team to continue growing the business organically and through acquisitions.”