Preservica has received a £7.5m ($10m) Series B investment from Mobeus Equity Partners.
The money will be used to meet accelerating demand for the company’s Active Digital Preservation software technology. The investment is made up of an initial £4m with a facility for a further £3.5m to support Preservica’s expansion plans.
Mobeus provides growth and buyout capital to UK-based SMEs across all sectors. Mobeus-advised funds have invested over £90m in 18 investments in the last 18 months.
Preservica’s 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.
Trevor Hope, Partner of Mobeus Equity Partners, said: “Preservica has developed a market leading technology platform with a strong vision and an impressive set of customers. 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.”
CTO and Founder of Preservica, Jon Tilbury also added: “The investment will enable us to further extend our lead in product innovation and our vision to make digital preservation a seamless part of the overall records and data lifecycle. This includes closer integration with enterprise content services platforms, automated preservation technology, and the use of emerging technologies such as Blockchain for data authenticity, and AI and Machine Learning for content classification, transcription and discovery.