OODRIVE RAISES 65€ MILLION TO FUEL GROWTH
29 March 2017
– Press release –
Oodrive achieves one of the most substantial fund raise of the private unlisted French Software industry with new financing round led by Tikehau Capital, MI3 and NextStage
Oodrive, the Trusted Partner for Sensitive Data Management, today announced it has completed a financial agreement to raise 65€ million with European Investors Tikehau Capital, MI3 and NextStage.
Founded in 2000, the software group Oodrive, quickly became the sensitive data management market leader with its Trusted Cloud Solutions tailored to Share, Save and Sign all kinds of documents.
This record round will enable Oodrive to reinforce its leadership position on the european market and accelerate its international growth.
“We are delighted to welcome Tikehau Capital, MI3 and NextStage as new investors. This funding recognizes the huge commitment of Oodrive’s teams to restless innovation and customer satisfaction.“ comments Stanislas de Rémur, CEO and co-founder of the Oodrive group.
The initial rounds in 2007 with Iris Capital, in 2011 with TIME For Growth, and in 2013 with Keensight Capital, allowed the group to reach 350 employees, serving more than a million users and 15.000 organizations in 90 countries.
The increasing need for enterprise collaborative solutions in mobile and secured environments created a strong demand for Oodrive’s Trusted Cloud Solutions.
Furthermore, tougher data governance rules in regards of personal and corporate data protection, reinforces the need for professionals to deploy secured and compliant solutions.
Oodrive will seize this opportunity to rapidly become the leader and the undisputed safe choice versus non-compliant solutions.
This new round of funding will allow the group to reinforce its product offering and to better serve its customers in global markets.
“We are delighted to support Oodrive’s development. Since its ignition, the company has always demonstrated uninterrupted innovation and agility to address the market’s needs. We are convinced about the huge growth potential of the Cloud data collaboration and protection market, and that together, we will create the indisputable leader in this space.“ says Antoine Flamarion, cofounder of Tikehau Capital.
“This record round is a strong recognition for all Oodrive’s employees. I am also very proud that innovation can be funded at these high levels by European investors.” adds Stanislas de Rémur.
The transaction is expected to close at the latest at the beginning of May 2017.
Following this new round of funding, the three cofounders, Stanislas de Rémur, Edouard de Rémur and Cédric Mermilliod keep the majority in the Oodrive group capital.
DC Advisory, LL Berg and EY served as councils for this operation.