18th Jan 2017 08:45
LONDON (Alliance News) - Venture capital firm Draper Esprit PLC said Wednesday it has doubled its investment in consumer review business TrustPilot.
Draper Esprit said it has invested a further GBP5.5 million in TrustPilot, doubling its equity stake in the company, although it did not disclose the exact size of its holding in the company.
Draper Esprit first investment in TrustPilot in 2013 and made a follow-on investment in 2015. Including its latest investment, it has now invested GBP11.0 million in the review site.
"Trustpilot has built a strong software-as-a-service revenue model with excellent growth in Europe and the USA over the last three years. Their aim is to build the world's single most trusted review brand, and we are committed to helping them achieve this," said Simon Cook, chief executive officer of Draper Esprit.
Shares in Draper Esprit were untraded Wednesday, having last traded at 347.50 pence.
By Adam Clark; [email protected]
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