Boston-based Charlesbank Technology Opportunities Funds, managed by investment firm Charlesbank Capital Partners, acquired Munich-based intelligence visualisation platform Maltego Technologies for an undisclosed sum.
The new owner plans to invest over $100 million to further accelerate Maltego’s growth and development.
“The Maltego platform provides incredible value to investigators in helping them make sense of a large volume of different data sets to complete their investigations and identify threats,” Charlesbank managing director Darren Battistoni said . Charlesbank has reserved significant additional capital to pursue follow-on acquisitions across the fragmented landscape, expecting strong market growth in the cyber security sector especially, Battistoni added.
The investment was supported by US multinational independent investment firm and financial services company Robert W. Baird, who served as exclusive M&A adviser to Maltego and its selling shareholders.
“The Maltego platform is all about empowering investigators. Charlesbank shares our vision. They have made a significant investment in the company to accelerate product development and sales internationalization. This enables us to add more features and data sources and to improve usability for even more investigators,” Maltego CEO Philip Mayrhofer, who will remain at the company together with the team, said. Maltego has just received the international standard for information security and has begun building a presence in North America, Mayrhofer added.
Maltego was developed in 2007 by Paterva, a Pretoria, South Africa-based company. In order to be able to handle the high growth and needs of increasingly professional customer segments, Paterva in 2008 entrusted the Munich-based Maltego Technologies with managing all customer-facing operations and developing new solutions, according to data available on both companies’ corporate websites.
Since 2017, Maltego was part of German investment management company Maxburg Capital Partners‘ portfolio. During the five years, the company reached over 100 employees and realized more than 4x profitable ARR (Annual Recurring Revenue) growth, according to Maltego’s CEO.
Maltego’s platform is now used by a broad audience, from security professionals and pen testers to forensic investigators, investigative journalists, and market researchers. Maltego has grown to over 100 employees in Germany and works with customers including the including the FBI, INTERPOL, and major tech and service companies including half of the DOW 30.
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Among its numerous tech investments are Imagequix, a US-based company providing software for high-volume photography studios, Healthcare Fraud Shield, an anti-fraud, waste and abuse solution for health insurers and Cyberbit, an Israeli-based cloud-based cybersecurity training and simulation solutions provider.
Image source: Maltego
