Portfolio company Trustpilot raises $55 million

RNS Number : 8142R

Draper Esprit PLC

05 March 2019

 

Draper Esprit plc

("Draper Esprit" or the "Company")

PORTFOLIO COMPANY TRUSTPILOT RAISES $55 MILLION

Draper Esprit (AIM: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, announces that its portfolio company Trustpilot, the leading independent platform for companies to build trust with consumers, has raised $55 million in its Series E funding round.

The Company first invested in Trustpilot in 2013, with follow-on investments in 2015 and 2017. The investment round is supportive of the NAV uplift reported at 30 September 2018 (including the benefit of the acquisition of the DFJ Europe X fund in November 2018 which increased the Company's stake in Trustpilot).

The series E fundraise was led by Sunley House Capital Management with strong participation from other existing investors including Draper Esprit; it will help Trustpilot accelerate its market leading position through investment in marketing, its technology platform and people.

Founded in 2007, Trustpilot now has more than 58 million reviews of over 265,000 company domains from 150+ countries. Today, Trustpilot is one of the top 1% most visited websites worldwide and a leader in the UK, other European markets and North America. Its brand is seen more than 3.5 billion times online each month.

Simon Cook, CEO at Draper Esprit, commented:

"Trustpilot is a fantastic business that we've backed for some years. They've built a market leading business model and have grown strongly since we initially invested in them in 2013. This new round of investment will enable them to consolidate their position as the world's leading platform for trust online."

Enquiries

Draper Esprit plc Simon Cook (Chief Executive Officer) Ben Wilkinson (Chief Financial Officer)	[phone]
Numis Securities Nominated Adviser & Joint Broker Alex Ham Richard Thomas Jamie Loughborough	[phone]
Goodbody Stockbrokers Euronext Growth Adviser & Joint Broker Don Harrington Charlotte Craigie Richard Tunney	[phone]
MHP Communications (PR) Reg Hoare Pete Lambie Flo Mayo	[phone]  [e-mail]

 

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