MyHeritage acquires Geni.com and raises $25m in new funding round

MyHMyHeritage, the online family history network, has acquired Geni.com and closed a new USD$25M funding round led by Bessemer Venture Partners, with existing investors Index Ventures and Accel Partners also participating. Geni.com Founder David Sacks and BVP Partner Adam Fisher are joining the MyHeritage Board of Directors.

The purchase of Geni.com is the eighth and largest acquisition made by MyHeritage since the launch of its online family history network in 2005. It extends MyHeritage’s network to 72 million registered users, 1.5 billion profiles and 27 million family trees.

The new investment round will be used by MyHeritage to boost growth of its historical content services and expand commercial operations worldwide. In addition to acquiring significant record collections from Europe and rolling out global crowd-sourcing projects, the funds will enable MyHeritage to explore additional M&A opportunities and ramp up its international marketing operations. The latest funding round brings the total funds raised so far by MyHeritage to USD$49 million.

“Today’s news is a major turning-point for the family history industry, giving us significant new resources to extend our market leadership and deliver new value to families worldwide,” said Founder and CEO of MyHeritage, Gilad Japhet. “Well established as an innovative and social brand, Geni.com is a natural addition to MyHeritage and together we look forward to taking collaborative family history to new heights.”

Founded in 2007, Geni.com will continue to operate as a separate brand based out of its California office, which will also serve as the main engineering hub for MyHeritage in the US, alongside its main content offices in Utah. The entire staff at Geni.com will join the MyHeritage team.

The services of MyHeritage and Geni.com will initially run independently. MyHeritage plans to give respective users the option to collaborate on family history research by enabling two-way information flows between the sites that will facilitate new family discoveries and provide greater value to the users of both services.

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