Iris Powered by Generali has completed a management-led buyout from Redion Group and is rebranding as Iris OnWatch, positioning the identity and cyber protection company for its next stage of growth as an independent business.
The new Iris OnWatch brand reflects the company’s independent ownership and its focus on proactively protecting individuals as digital and identity-related risks continue to evolve.
Iris OnWatch will continue providing its existing suite of identity and cyber protection services to millions of individuals through enterprise and financial institution clients.
The company said existing programs, customer commitments and service levels will remain in place following the transaction.
Iris has more than 20 years of experience in identity protection and was an early participant in the B2B2C identity protection market.
Its technology platform combines configurable enrollment experiences and protection capabilities with intelligence, analytics and customer support.
The company serves millions of consumers through relationships spanning financial services, insurance, telecommunications, employee benefits and other industries.
Iris said the independence created through the buyout will provide greater flexibility to invest in its platform and respond to changes in the identity and cybersecurity market.
The company is also incorporating artificial intelligence into its platform as AI changes the threat environment and creates new opportunities to strengthen identity protection.
The management-led transaction is supported by strategic investment partners NewSpring Capital and Signal Cove Capital, which will provide growth support as Iris OnWatch scales as an independent technology company.
KEY QUOTES:
“This is a milestone moment for Iris. Completing this management-led buyout allows us to chart a course that will enable our business to capitalize on the future of this rapidly growing industry. We will continue putting our employees, our clients, and their customers at the center of everything we do since partnerships are a core part of our DNA. All while continuing to provide a flexible, innovative platform with the high touch, empathetic and knowledgeable customer service needed to help victims out of difficult and stressful situations.”
Paige Schaffer, CEO of Iris
“This transition reflects a natural evolution of our respective strategies. Iris has grown into a successful technology-driven business with its own distinct opportunities for growth and innovation. We are proud of what the Iris team has built and look forward to continuing our longstanding partnership as both organizations focus on their respective strengths.”
Olivier Carn, Chief Strategy and Corporate Development Officer of Redion Group
“What differentiates Iris is the flexibility and intelligence of our platform. Clients can choose how their customers enroll, the protection features they offer and how the experience integrates into their ecosystem. We help clients understand what’s working for their customers, and because they are connected to our platform, they can easily add new features as their needs evolve. As AI reshapes the threat landscape, we’re leveraging it to enhance our protection.”
Erik Nienaber, Chief Operating Officer of Iris
“Iris has built an impressive business with a strong leadership team, a differentiated technology platform and longstanding relationships with leading global organizations.”
Michael Avon, Managing Partner of Signal Cove
“We believe Iris is exceptionally well positioned to capitalize on growing demand for identity and cyber protection solutions, and we look forward to supporting the team operationally in this next phase of growth.”
Larry Berran, Operating Partner at NewSpring Capital
