Wrike, Inc. - New equity financing

RNS Number : 4793P

TMT Investments PLC

02 October 2013

 

2 October 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Wrike, Inc. - New equity financing

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that its portfolio company Wrike, Inc. ("Wrike") has recently completed a new equity financing round led by Bain Capital Ventures.

As a result, TMT now holds approximately 4.5% of Wrike's fully-diluted equity capital.

The transaction represents an approximately US$990,000 uplift in the fair value of TMT's investment in Wrike, compared to the latest reported amount as of 30 June 2013.

Alexander Selegenev, Executive Director of TMT, commented: "We are delighted that Bain Capital Ventures has also identified Wrike's attractiveness and followed our initial investment of US$1m in June 2012.  We look forward to continued growth at Wrike".

Wrike (www.wrike.com) is a leading on-demand, online project management and collaboration software platform trusted by thousands of companies all over the globe.  It provides teams with a powerful ability to collaborate on multiple projects in one workspace in real time.

For further information contact:

TMT Investments Plc Mr. Alexander Selegenev www.tmtinvestments.com	[phone] [e-mail]
ZAI Corporate Finance Ltd. NOMAD and Broker Marc Cramsie/Irina Lomova	[phone]
Kinlan Communications David Hothersall	Tel. [phone] [e-mail]

About TMT Investments

TMT Investments PLC invests in high-growth, internet-based companies across a variety of sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has raised USD28m and invested in 26 companies to date. The company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com

 

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