White Ops acquired by Goldman Sachs Merchant Banking
In an announcement made by White Ops, the leader in protecting enterprises and internet platforms from digital fraud and abuse has been acquired by Goldman Sachs Merchant Banking Division, ClearSky Security, and NightDragon.
The three sponsors have acquired the company from the previous investors: Paladin Capital Group, Grotech Ventures, and other shareholders. The acquisition follows Goldman Sachs' and ClearSky's initial investment made earlier in the year.
"Goldman Sachs, ClearSky, and NightDragon are ideal partners to support the next phase of the Company's evolution and growth across multiple markets, use cases and geographies. Their continued support of our mission to disrupt the economics of cybercrime, global network of relationships, and market expertise provides a very strong foundation to execute on our vision to enable collective protection for the internet,” commented Tamer Hassan, CEO and co-founder of White Ops.
The acquisition of the company will help White Ops to further accelerate its next growth phase, expanding into new markets. White Ops’ core focus is to protect enterprises from sophisticated bot attacks and fraud in cybersecurity, digital advertising and marketing domains.
With a large number of companies moving to digital following the impact of COVID-19, White Ops reports that it was called upon to verify the humanity of over 10trn interactions a week for its customers, a figure that continues to grow.
"We have been very pleased with the Company's performance since our initial investment and we're delighted to build on our current partnership, especially as White Ops continues to benefit from consumers' shift to digital and clients increasingly require protection. We look forward to supporting management in their next phase of growth,” commented said Anthony Arnold, Managing Director at Goldman Sachs.
"As fraud and abuse become increasingly prevalent across the digital ecosystem, enterprises and internet platforms require sophisticated threat protection now more than ever. White Ops has proven that it can stop fraud and abuse at tremendous scale. We have spent a lot of time with their leadership team over the past year and have been impressed with the strength and quality of their platform. We look forward to partnering to continue to build on the Company's leadership position in the industry," added Jay Leek, Managing Partner of ClearSky.
Alongside the representatives from Goldman Sachs, Leek will join the Board of Directors representing ClearSky and Dave DeWalt, Founder and Managing Director at NightDragon will join the Board of Directors representing NightDragon and serving as Vice Chairman.
"Through our experience in engaging with hundreds of enterprises and their cybersecurity teams, we know that automated attacks on applications creating fraud and abuse is a critical point of risk to every security and marketing team. We look forward to partnering with the team at White Ops to help clients across a range of industries, " concluded DeWalt.
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