Increased investment in Trustpilot
Posted by Isabella Cookson, 19 Jan 2017
Draper Esprit (AIM: GROW, ESM: GRW), a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses, today announces that it has doubled its equity stake in TrustPilot (“the Company”), investing a further $6.9 million (£5.5 million).
Draper Esprit first invested in Trustpilot in 2013, with a follow on investment in 2015 and including this current investment, has now invested £11 million.
Founded in 2007, Trustpilot is a global, multi-language review community. Trustpilot has customers in 65 countries including Denmark, Sweden, the U.K., France, Italy, Germany, the Netherlands and the U.S. Trustpilot has offices in New York, London, Denver, Copenhagen and Melbourne.
Consumers visit the Trustpilot website to leave positive or negative reviews about an online merchant where they purchased a product or service. Merchants are then able to respond directly and openly with consumers who have left reviews. Merchants may embed the Trustpilot widget onto their site in order to highlight their ratings amongst customers, and can opt into having starred reviews showing up on ad-words when a customer searches for that merchant. Reviews help drive increased customer traffic and improve conversion significantly.
Simon Cook, CEO Draper Esprit commented: “Trustpilot has built a strong SaaS 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.”
Promotion of Jonathan Sibilia to Head of Secondary Investments
Posted by Isabella Cookson, 07 Dec 2016
Draper Esprit (AIM: GROW, ESM: GRW), a leading venture capital that backs high-growth technology businesses, is pleased to announce that Jonathan Sibilia has been appointed as Head of Secondary Investments. Mr Sibilia has extensive experience of venture secondary deals, having acquired venture capital portfolios comprising over 30 companies. He will be responsible for all aspects of the secondary business, including strategy, investments, fundraising and portfolio construction.
Draper Esprit Secondaries focuses on secondary opportunities in the European venture market. It provides liquidity to founders, angels, VCs and other shareholders in fast growing technology companies, as well as has the capacity to buy venture portfolios from other tech investors. Since 2006, it has concluded some of the largest venture secondary transactions in Europe. These include the £170m acquisition of 3i plc’s venture portfolio backed by Coller Capital and HarbourVest Partners; the £55m take-private of Prelude plc’s venture portfolio; and the acquisition of Cazenove’s £234m venture capital fund. Draper Esprit further announced last month they had acquired Elderstreet Investments to expand their VCT.
Mr Sibilia is a Partner at Draper Esprit with extensive international experience in financial management, corporate finance and investment banking. Prior to joining the company in 2009, he worked in the technology group at Jefferies International advising on high-profile cross-border M&A, debt & equity offerings. Previously he also worked at Rothschild in Paris. He holds a MA in Management from EM-Lyon and a MA in Advanced Corporate Finance from the University of Paris IX Dauphine.
Simon Cook, CEO, Draper Esprit commented, “Jonathan has been a critical part of our secondaries work so far and we are delighted that he will now lead this area in the business.”