Preservica accelerates product innovation with $3.8m funding from Mobeus
Additional funding will accelerate new product-led initiatives as well as further innovation in Preservica’s core technology platform.
Preservica today announced an additional $3.8 million[1] (£3m) investment from Mobeus Equity Partners.
Demand for Preservica’s market-leading Active Digital Preservation software has continued to grow as government, academic and business organizations around the globe seek to preserve and provide access to critical records, including those related to the pandemic and other recent world-changing events.
The funding will accelerate product innovation including new product-led initiatives that will make it easy for organizations of all sizes to start preserving critical records, as well as further innovation in Preservica’s core technology platform. The investment builds on the recent appointment of Phil Beckman as Preservica Chief Technology Officer (CTO).
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, statutory and brand value needs. Available as SaaS or on-premise, the solution is trusted by a growing global client base including HSBC, Yale University, the Associated Press, Transport for London (TfL), Amnesty International and twenty two US State archives.
Matt Mead, Venture Partner, Mobeus Equity Partners
“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.”
Mike Quinn, CEO, Preservica
“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”
[1] The investment round provides an initial £2.5m with an additional facility of £500k.
About Mobeus
We are a team of investors with a 20 year track record, providing £2 million - £15 million to UK SMEs across all sectors. We partner with talented and determined management teams of companies with strong growth potential www.mobeus.co.uk Over the last 12 months, our growth team has made five new and four follow-on investments, totalling more than £25m to drive growth at UK SMEs, and exited five businesses generating over £60m of cash profits for the Mobeus VCTs.
About Preservica
Preservica is changing the way organizations around the world protect and future-proof critical long-term digital information. Available on the cloud (SaaS) or on premise, our award-winning active digital preservation software has been designed from the ground-up to tackle the unique challenges of ensuring digital information remains accessible and trustworthy over decades.
It’s a proven solution that's trusted by a growing number of businesses, archives, libraries, museums and government organisations around the world - including the Associated Press, Transport for London (TfL), Texas State Library and Archives, MoMA, Yale, and HSBC - to name a few.
Visit: www.preservica.com Twitter: @preservica
Media inquiries
In the UK: For further information, please contact: Edward Clark, eclark@thecommsco.com, or call: +44 (0) 203 697 6680
In Canada and the US: For further information, please contact: Maria Doyle, maria@doylestratcomm.com, or call: 781-964-3536
