October 31, 2020

Preservica accelerates product innovation with $3.8m funding

Preservica today announced an additional $3.8 million (£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, said:

“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, added:

“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”