has taken a minority stake in digital identity and verification player Data Zoo in a deal that values the Sydney-founded business north of $100 million.
It has grown organically over the past decade, gaining a foothold in Asia and its three-year revenue compound annual growth rate is more than 30 per cent. “I’m very proud of where I’ve been able to get the business to, but it’s at a stage now to take it to the next level as a true global player.” Prior to founding Data Zoo, Mr Fitzgibbon was an accountant before joining the family business Asis, which built databases for business to run marketing campaigns, which was sold to Nasdaq-listed Acxiom in 2000. In 2002, he founded FCS OnLine, which provided identity and anti-money laundering services and was acquired by Dun and Bradstreet in 2009.Mr Fitzgibbon said the investment from Ellerston will help catapult the company into the global market, while maintaining its connection to Australia.
David Leslie, the investment director of Ellerston JAADE, said the fund was attracted to a founder-led business digital ID verification as an enormous global growth opportunity.