Actimize Secures $10 Million in Series C Financing
FTVentures becomes first US investor, leads round with original investment partners.
Financing will fuel expansion into new geographies and vertical markets for firm's anti-threat, fraud prevention, and risk management solutions.
Wednesday, January 14, 2004
New York, NY - Actimize, which provides industry-leading analytics and monitoring solutions for enterprise operational risk management, announced today that it has secured an additional $10 million in funding, led by a new investor, Financial Technology Ventures (FTVentures), a venture firm with offices in San Francisco and New York. FTVentures is the first US investor in the firm, and it joins Actimize's original investment partners Carmel Ventures, Giza Venture Capital, and Vertex Venture Capital. The round strengthens Actimize's already solid financial position and will enable the company to continue to invest in new operational risk technology initiatives, solidify their leadership position in the financial services vertical, and prepare for entry into new vertical industries and geographies.
Actimize solutions monitor transactional activity, instantly detecting and reporting unusual business activity such as money laundering, ATM and credit card fraud or brokerage trading irregularities. Utilizing powerful analytics to differentiate normal from unusual activity, Actimize solutions integrate non-intrusively with internal and external operational systems to detect anomalies, trigger instant alerts, and provide case management and workflow tools. An innovative system architecture enables Actimize to leverage an enterprise's existing primary data sources, eliminating the need for complex and costly data warehouses, reducing total cost of ownership and accelerating deployment. Actimize's offering has been specifically designed for rapid implementation, scalability, and easy customization.
"This investment represents a tremendous endorsement of Actimize's technology and its business model," said Actimize president and CEO Reuven Battat. "This round of financing will enable us to continue providing our enterprise customers with the industry's leading solution and the world-class services that have helped to make Actimize the most innovative player in the operational risk management arena."
"Actimize has developed and commercialized a breakthrough technology and is rapidly growing into a leader in the compliance and surveillance solution market," said Bob Barrett, partner of FTVentures and new board member of Actimize. "The need for robust, flexible enterprise risk management solutions is growing exponentially, and we look forward to introducing our financial services Limited Partners to the company."
"We're very excited to have FTVentures both as an investor and a board member," added Avi Zeevi, founder and general partner of Carmel Ventures, chairman of Actimize's Board of Directors. "Their infusion of capital, their operational expertise in helping to grow companies, and their LP network of leading financial institutions, will help us to meet the ever-increasing demand for our solutions, both within the financial services vertical and especially as we expand into other verticals."
Founded in 1998, FTVentures was the first venture capital firm in the U.S. to focus on technologies that benefit the global financial services industry. FTVentures now has over $623 million in total capital under management and is a leading investor in information technologies. FTVentures invests primarily in companies developing products and services in software and business services, with a particular emphasis on companies that enable financial institutions worldwide to expand and to operate more efficiently. FTVentures' investors are 38 of the world's largest financial institutions, and are leaders in the innovative deployment of technology and operational solutions. For more information, please visit www.ftventures.com.
About Carmel Ventures
Carmel Ventures is Israel's largest software-focused fund. Led by former entrepreneurs and executives of the software and investment industries, Carmel provides active, hands-on support to its Israeli, European and US portfolio companies. Carmel has offices in Herzeliya, Israel and London, UK, and a worldwide network of industry, strategic and investment resources. With $171 million in commitments from a strong investor base, which includes Citigroup, AOL Time Warner, Siemens, The Partners Group, Swiss Life, and other leading worldwide investors, Carmel is able to provide significant capital and support throughout the growth cycle of its portfolio companies. For more information, please visit www.carmelventures.com.
About Giza Venture Capital
Giza Venture Capital was established in 1992 and manages three funds totaling $316 million. Giza has invested in 68 early- to late-stage companies in the sectors of Communications, IT, Enterprise Software and Life Sciences. The fund's capability in evaluating technologies combined with its cumulative experience in venture capital, operations, investments, and M&A, create the foundation of Giza's vision and success. Giza's headquarters in Tel Aviv, together with offices in New York, London, and Singapore, enable the fund to forge strong relationships on behalf of its portfolio companies by actively advancing strategic alliances across the continents. For more information, please visit www.gizavc.com.
About Vertex Venture Capital
Vertex manages $650 million in venture capital in Israel and Europe and is part of the International Vertex Venture Holdings (VVH). VVH, headed by Lee Kheng Nam, manages over $1 billion in venture capital and has offices in the USA, UK, Israel, Denmark, Singapore, Taiwan, Hong Kong and China. Vertex Israel invests in seed and early stage Israeli companies and focuses its investments primarily on technology-intensive companies with real market growth potential and promising entrepreneurs. For more information visit www.vertex.co.il.
Actimize provides an active analytical application platform for enterprise operational risk management. Actimize solutions monitor transactional and other activity, instantly detecting and reporting unusual business events. Utilizing powerful, real-time analytics to differentiate normal from unusual activity, Actimize solutions integrate non-intrusively with internal and external operational systems to detect anomalies, trigger instant alerts, and provide case management and workflow tools. An innovative system architecture enables Actimize to leverage an enterprise's existing primary data sources, eliminating the need for complex and costly data warehouses. This enhances scalability, simplifies customization, accelerates implementation, and reduces total cost of ownership.
Current offerings include solutions for anti-money-laundering (AML), compliance, governance, surveillance, and fraud prevention for the financial services vertical. These solutions enable enterprises to mitigate risk through identifying and responding to potential threats, reducing loss, and maintaining regulatory compliance. Actimize customers include some of the world's most prestigious financial institutions and regulatory bodies. Headquartered in New York, with operations in Israel and the UK, Actimize is setting the standard for active business analytic solutions for the financial services vertical. For more information about Actimize, visit www.actimize.com or contact David Z. Orban, Actimize's director of marketing at (212) 643-4600.
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