Preservica secures £3m Series B funding from Mobeus Equity Partners to accelerate product innovation.
Mobeus Equity Partners has provided £3m in Series B funding to accelerate product innovation at Preservica.
Preservica provides active digital preservation software that protects long term digital information against technology obsolescence. The company serves a global client base that includes academic institutions, government bodies, and commercial enterprises.
Preservica has secured £3m in Series B funding from Mobeus Equity Partners to accelerate product innovation and expand its core technology platform. The capital will support new product initiatives designed to simplify digital preservation for organisations of various sizes. This transaction follows previous backing from the investor, bringing their cumulative commitment to the software provider to £10m.
Demand for the company software has risen as public and private sector entities seek to safeguard critical records amid recent world events. The funding builds on the recent appointment of Phil Beckman as chief technology officer and reinforces the ongoing partnership between the two organisations.
From the founder
"Everyone at Preservica is delighted with this additional investment by Mobeus Equity Partners. It reflects a real confidence in the business especially at this time of global change. The funding will enable us to accelerate our plans to further innovate in our core product as well as make it easy for organizations of all sizes to quickly start using digital preservation to protect critical information"
Mike Quinn
CEO at Preservica
Investor perspective
"Mobeus supported the spin out of the original Preservica technology platform from its successfully exited portfolio company Tessella. Since 2016,we have partnered with Preservica to drive its international expansion and further technological development by providing an overall commitment of $12.8m (£10.0m). We continue to be impressed by the team’s progress against its core operating KPIs and believe the long term market drivers around privacy and governance make this a very exciting opportunity."
Matt Mead
VenturePartner, Mobeus Equity Partners
Use of funds
- 01Continue product development
- 02Fund research and development
Investors
Categories
About the company
Preservica
Preservica provides active digital preservation software to future proof critical records.