There is a common misconception that MyHeritage is owned by Ancestry. These two rivals are not connected, and MyHeritage is an independent company. So, who actually owns MyHeritage?
This article will give the short answer, and also explores the major investors and influencers in MyHeritage.
Who Owns MyHeritage?
The MyHeritage website is owned by a private limited company based in Israel. Gilad Japhet founded MyHeritage in 2003 and is still CEO. The company has several significant investors including:
- Bessmer Venture Partners
- Hasso Plattner Ventures
- Index Ventures
There are about another ten investors from five rounds of investment since 2005. Some partners and investors have seats on the board of directors and have a significant influence on the company’s direction.
Early investors in MyHeritage
Japhet initially found it difficult to raise investment in his new genealogy company. The problem was the timing. Japhet was looking for funding after the crash of the dot com bubble.
According to TechCrunch, MyHeritage raised about $9 million in funding back in 2005.
Half the funds came from Accel, an American venture capital firm that specializes in early start-up companies. In that same year, Accel invested in Facebook at its early Series A stage.
The other half was contributed by two Israeli angel investors, Yuval Rakavy and Aviv Raiz. Rakavy has a well-earned reputation as a technology guru. Aviv Raiz joined the MyHeritage board of directors.
Another investment round
Accel was part of another investment round in 2008. They were joined by Index Ventures, a London-based investment firm. Index Ventures were one of the original investors in Skype.
MyHeritage reported that the two companies brought about $15 million to the table.
A partner from each company also took a seat on the MyHeritage board of directors.
Major events in 2012
In 2012, MyHeritage raised $25 million. The investment company Bessmer Venture Partners, led this funding round. Their partner Adam Fisher also joined the board of directors.
But that wasn’t all that happened in 2012. MyHeritage purchased one of its major competitors, Geni.com. You can find a few details in this article section on who owns Geni.com.
David Sacks, the founder of Geni, took a seat on the MyHeritage board of directors.
Gilad Japhet, Founder Of MyHeritage
Let’s take a quick look at the founder’s history. How and why did MyHeritage get started?
Gilad Japhet studied computer science in his native Israel before heading off to work in Silicon Valley. He had discovered a deep interest in genealogy in his teenage years and continued to work on his family tree.
But Japhet was disappointed with the available genealogy software. So like a true techie, he wrote his own. This was software to run on a desktop computer. Then Japhet decided to make the software available to download from the internet.
He founded his genealogy company in 2002. It was actually called Inbaltech, which was a play on the name of his daughter. He would later change the company name and brand to MyHeritage.
Will MyHeritage Go Public?
Shortly before I was writing this article, 23andMe announced its plans for an IPO. Its rival Ancestry has previously listed on the NASDAQ in 2009, before going back into private ownership.
As far as I can tell, MyHeritage hasn’t given any indication that going public is in their future plans. But there’s no harm in speculating on whether they will follow 23andMe or heed Ancestry’s example.
And here’s a few pointers that might be relevant.
Gilad Japhet, the founder, was involved in an IPO
When Gilad Japhet was in Silicon Valley, he was working as head of product development with a company called BackWeb Technologies.
Japhet was a key part of the team that took this company public on the NASDAQ. So, he’s got some experience! Admittedly, that was twenty years ago.
Investors on the board
I mentioned that some of the companies investing in MyHeritage have placed their partners on the board of directors.
A successful IPO is an investor’s dream. But is it feasible for MyHeritage? Ancestry’s experience may have made this path less desirable. But I’ll bet they’ll be watching 23andMe’s progress like hawks.
Where Is MyHeritage Located?
The headquarters of MyHeritage is in Or Yehuda, a city in the district of Tel Aviv, Israel. MyHeritage also has offices in countries including the US, UK, and Ukraine.
The company was founded by an Israeli software engineer, Gilad Japhet. Like so many startups, it first operated out of his family home in a village near Tel Aviv. As the company took on employees, Japhet ran it from a farmhouse in the village.
I’ve already mentioned that 2012 was a big year for the company. They raised $25 million in investment and also purchased Geni.com. And another important event happened!
The company moved from the village farmhouse to offices in a district of Tel Aviv. If you want to see some pictures, check out their blog.
Where Is The MyHeritage DNA Lab?
Although the global headquarters of MyHeritage is in Israel, it does not process DNA tests in its home country.
MyHeritage uses Gene By Gene’s DNA laboratory in Houston, Texas to process DNA tests.
If you’re not familiar with Gene By Gene, they are the company that owns Family Tree DNA. So the same outfit processes the DNA kits of two competing companies.
That doesn’t mean that you would get the same results if you tested with both MyHeritage and Family Tree DNA. The two genealogy companies use different algorithms to process the results.
Does Ancestry own MyHeritage?
If you’ve read this far, then you already know the answer. But this question crops up on genealogy forums. This may be because Ancestry has a history of buying other genealogy companies. You can see their acquisitions in an Ancestry corporate timeline here.
MyHeritage is not owned by Ancestry. MyHeritage is an independent private company headquartered in Israel. The two genealogy companies have no connection.
MyHeritage does have a relationship with FamilySearch, another giant genealogy organization. There is an integration agreement between these two services. Record and family tree searches on MyHeritage can use FamilySearch as a source.
- How Long Do 23andMe DNA Results Take in 2021? - February 23, 2021
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- Are Ancestry Results The Same For Siblings? (Real-Life Examples) - February 16, 2021