MyHeritage Acquired by Leading Private Equity Firm Francisco Partners

We’re happy to announce that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has acquired MyHeritage. The transaction was signed on February 24, 2021, and was pending regulatory approvals, which have recently been received, and hence the acquisition was completed today. 

The last 18 years have been an incredible journey for MyHeritage, none of which would have been possible without our amazing team and our devoted users. We couldn’t have done it without you.

Same team… same mission

Gilad Japhet, Founder and CEO of MyHeritage, will continue to lead our excellent and dedicated team as we create new and exciting ways for people to learn about their origins. There are no personnel changes and no changes in the product roadmap. Some of our former investors have departed with a smile, and Francisco Partners has replaced them.

Continuing to put our users first

Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential.

We believe Francisco Partners is uniquely positioned to help us accelerate our vision for growth at MyHeritage, enabling us to continue along our path and do what we do best — putting our users first and giving them life-enriching, and sometimes life-changing, experiences. We look forward to what the future holds as we embark on this new chapter with Francisco Partners. 

The MyHeritage journey

Since 2003, MyHeritage has made discovering family history easier and more accessible to millions of people around the world. Our passion for genealogy and commitment to innovation have guided us over the years. MyHeritage is currently used by 85 million users worldwide who have collectively created more than 72 million family trees, and the site is available in 42 languages. 

MyHeritage has raised $49 million over the years in 5 rounds of financing, the last of which took place in 2012, after which the company turned profitable. The company’s investors have included private investors Yuval Rakavy and Aviv Raiz, who invested in the company in 2005 and have continued to support it ever since, as well as Accel, Index Ventures, and Bessemer Venture Partners. With their support, the company accelerated its growth and completed 11 strategic acquisitions. Some of the company’s current investors will be re-investing into the company alongside Francisco Partners, including HP Beteiligungs GmbH, Yuval Rakavy, the company’s founder and CEO Gilad Japhet, and independent investor Gigi Levy.

Commitment to privacy

At MyHeritage, your privacy and the security of your data are our highest priority. We do not sell or license personal data. We continually assess our procedures and policies and seek new ways to improve our approach to privacy and security. With Francisco Partners, this commitment will be further strengthened and users will benefit from enhancements to the company’s privacy framework. As a first step in this strategy, we will shortly update our privacy policy to include the unequivocal prohibition for the company to license or sell genetic data to any third party. These updates will be highly unique among the larger genealogy and consumer DNA industry and are a testament to the commitment both companies share to privacy and consumers.

To our users

Going forward, MyHeritage will remain the same family history company that you have grown to love. Our mission remains unchanged and we will continue innovating to make family history more fulfilling, enjoyable, and accessible. 

We’re incredibly excited for the next chapter in MyHeritage’s evolution, and we’re thrilled for you to be part of the journey. Francisco Partners’ extensive expertise and resources will allow us to create even greater value for our users, and reach a larger audience, benefiting millions of MyHeritage users worldwide.

Stay tuned for great things to come!

The post MyHeritage Acquired by Leading Private Equity Firm Francisco Partners appeared first on MyHeritage Blog.

Source: MyHeritage Blog https://blog.myheritage.com

Posted On: April 8, 2021 at 12:35PM