Audit, Monitoring, Security & Backup for cloud-based data

Shareholding: 11.0%
First Investment: April 2015

ThisData (formerly Revert) provides a login security services to SaaS companies.

ThisData’s contextual authentication SaaS software and other assets were acquired by private, US-based company OneLogin in April 2017. The acquisition of ThisData’s assets was in exchange for OneLogin shares, which are currently held in escrow by ThisData (now renamed TD Limited). As OneLogin is a private company, options for liquidating Punakaiki Fund’s interest in ThisData are uncertain, but may include selling its existing ThisData shares, selling OneLogin shares to another OneLogin shareholder or waiting for a potential OneLogin IPO.

The last investment event for ThisData was a small fund raising round in April 2010 to assist with the OneLogin transaction costs. Punakaiki Fund participated in this round. Prior to its sale, LWCM provided ThisData occasional advice and feedback, including on product features and strategy, pricing, options for capital structuring, and customer acquisitions.