Semafone, the leading provider of data security and compliance solutions for call and contact centers, announced that it has secured a majority investment from Livingbridge, a mid-market private equity firm with a global presence. The capital will enable Semafone to continue to invest in its industry-leading solutions portfolio, accelerate go-to-market strategy, and drive global expansion.
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“Our investment in Semafone is timed with an increased demand for consumer data protection”
Worldwide spending on information security and risk management technology and services is forecast to grow 12.4% to reach $150.4 billion in 2021 according to Gartner, Inc. With a total addressable market of £1.4bn at the tipping point of digitalization, Semafone provides technology solutions that make it possible for businesses to remove the burden of lengthy, manual processes around consumer data protection, regulatory compliance, and security. Semafone’s best-in-class solutions enable compliant, secure, and frictionless customer interactions across mediums by preventing unauthorized access and storage of personally identifiable information (PII).
As payments and customer interactions become increasingly digitized, further compounded by the impact of the pandemic, Semafone is poised to disrupt the industry. With the frequency and severity of data breaches on the rise, there has been an uptick in more onerous global data security standards and regulations. According to Garter Inc., by 2023, 65% of the world’s population will have its personal data covered under modern privacy regulations, up from 10% in 2020. All businesses with a customer-facing element will be challenged to transform their security and privacy processes to comply with regulations such as PCI DSS v4.0, GDPR, and HIPAA. Semafone empowers businesses to prioritize customer data privacy and compliance through secure, seamless, and omnichannel customer experiences.
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“We have spent the last decade building the best solutions in the industry, and now is the time to further accelerate our growth by taking the company to the next level,” said Gary E. Barnett, CEO, Semafone. “We are excited to have Livingbridge as our partner as they share our vision for global market leadership. Our commitment to ensuring data security is stronger now than ever, and with this investment we now have the opportunity to educate, inform, and change the way organizations process and secure sensitive customer data.”
“Our investment in Semafone is timed with an increased demand for consumer data protection,” said Curt Kahn, Head of US at Livingbridge. “With a portfolio of solutions that aid in the prevention of data breaches, identity theft, and payment fraud, the opportunity is now for Semafone to capitalize on its offerings, and we are thrilled to invest in the company’s growth.”
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