Preservica drives global expansion with £7.5m funding from Mobeus
Preservica today announced a £7.5 million ($10 million) Series B investment from Mobeus Equity Partners to meet accelerating demand for its Active Digital Preservation software technology. The investment provides an initial £4 million with a facility for a further £3.5 million to support Preservica’s continued global expansion plans.
Preservica’s award-winning software future-proofs all types of digital content against technology obsolescence, ensuring it remains accessible and trustworthy over decades to meet legal, compliance, governance and brand value needs.
Available as a cloud-hosted (SaaS) or on-premise solution, Preservica’s software is already trusted by a growing global client base - from major corporations and government bodies to iconic cultural institutions. These include HSBC, the World Bank, Associated Press, BT, Amnesty International, Yale University, MoMA, the UK National Archives and 21 US state archives.
The Series B funding will be used to accelerate product innovation and further scale the business through partners.
“Preservica has developed a market leading technology platform with a strong vision and an impressive set of customers,” said Trevor Hope, Partner, Mobeus Equity Partners. “This is a disruptive offering well matched to supporting organisations grappling with the exponential growth in digital content, pressure to decommission legacy applications and increasingly stringent regulation and compliance, like GDPR.”
Mike Quinn, CEO of Preservica added: “Everyone at Preservica is delighted with this significant investment by Mobeus Equity Partners. It reflects a real confidence in the business and the opportunity for our unique Active Digital Preservation technology. The funding will enable us to accelerate our plans to scale through partners and expand our SaaS offering around the globe.”
The Series B investment from Mobeus comes on top of an impressive growth in Preservica’s global customer base including recent additions such as the World Bank, Network Rail and Dartmouth College. The company is also accelerating its global capability through strategic partnerships.
During 2018 the company reported its fastest growth in revenues underpinned by a continued focus on excellence in Information Security (ISO 27001), quality (ISO 9001), GDPR compliance, and the highest levels of SaaS cloud-hosting as an AWS Advanced Technology Government & Education Competency partner.
– Ends –
For further information please contact:
Issued by Mobeus Equity Partners LLP, of 30 Haymarket, London SW1Y 4EX, registered in England & Wales number OC320577, authorised and regulated by the Financial Conduct Authority, number 456538. This material is for information only and does not constitute an offer to buy or sell an investment nor does it solicit any such invitation. The information contained in this email is believed to be accurate at the date of publication but no representation or warranty stated or implied is made or given by any person as to its accuracy or completeness and no responsibility or liability is accepted for any such information or opinion.