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Exit to the Israeli MyHeritage: Acquired by the Francisco Partners Investment Fund
MyHeritage, a company that develops and offers the world's leading service for researching and discovering family roots, has been acquired by the Francisco Partners Investment Fund.
Terms of employment have not been released
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Wednesday, February 24, 2021, 7:46 p.m.
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Exit to the Israeli MyHeritage (Photo: PR)
The Israeli company MyHeritage, which develops and offers the leading global service for researching and discovering family roots, announced today (Wednesday) that Francisco Partners, an international investment fund that specializes in investments and partnerships with technology companies, will acquire the company.
"When I founded the company at home 18 years ago, I had a clear vision that motivated me, and continues to motivate me today, to enable the discovery of family history through advanced technology, and to reveal to people the fun of genealogy - the human realm that unites people and families." Said Gilad Yefet, CEO and founder of MyHeritage.
"With an excellent and dedicated team, years of hard work and constant technological innovation, we have created exciting new ways for people to learn about their origins. We see Francisco Partners as a true partner in our journey forward, not only because of the trust they place in our company in this acquisition. That we as a company will remain true to our vision and will continue to do what we do best - put our users first and give them enriching and sometimes even life-changing experiences.The move will allow us to reach new heights, invest more resources in creating more value for our users and reach a large audience "We are very excited for the next chapter in the development of our company," he added.
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Gilad Yefet, CEO and Founder of MyHeritage (Photo: PR)
Since its inception, MyHeritage has raised $ 49 million in five rounds of financing, the last of which was in 2012, after which the company became profitable.
Investors in the company included private investors Yuval Rechbi and Aviv Reiz, who invested in the company in 2005 and have continued to support it ever since.
In addition, the company also invested in the venture capital funds Accel, Index Ventures and Bessemer Venture Partners.
With their investment and support, the company has accelerated its growth and completed 11 strategic acquisitions over the years.
Some of the company's current investors will reinvest in the company alongside Francisco Partners, including HP Beteiligungs GmbH, Yuval Rechbi, CEO and founder of the company Gilad Yefet, and independent investor Gigi Levy.
In addition to its business activities, MyHeritage seeks opportunities to use its tools and services Its pro-bono initiatives include DNA Quest, an initiative that helps adoptees reunite with their biological families by donating thousands of DNA tests, and Tribal Quest, an initiative that helps document the family history and cultural heritage of endangered tribes around the world. With the advent of the corona virus, MyHeritage has set up a corona testing laboratory in Israel with the aim of saving lives and helping Israel fight the plague.
With its strong presence across Europe, combined with the development of unique and state-of-the-art technologies, MyHeritage is an ideal investment for Francisco Partners. ", Said Matt Spetzler, a partner at Francisco Partners and co-director of the fund's operations in Europe, who will also join the company's board of directors upon closing the deal.
"Francisco Partners shares with MyHeritage its vision of growth as well as its intense commitment to ensuring the privacy of its users. The protection of users' personal data is a top priority and we will work with MyHeritage to further strengthen the company's privacy protection, which is already strong. , Spetzler concluded.
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