Tikehau Capital Support French Cloud Computing Software Developer Oodrive in Raising €65M
Tikehau Capital led the funding of €65M for Oodrive, the European leader in sensitive-data management solutions, to accelerate the group’s growth. Oodrive has thus completed the largest-ever fund-raising deal by a non-listed French software publisher.
The French group Oodrive, which was created in 2000, rapidly imposed its presence as the leader in the sensitive-data management market, providing Cloud-based file-sharing, protection and electronic signature solutions.
The growing need for increasingly mobile, confidential and secure on-line corporate data sharing, has led to a surge in demand for the solutions provided by Oodrive.
Moreover, increasingly stringent French and European regulations, relating to personal and corporate data protection, have increased the needs among professionals for solutions which enable them to comply with these new obligations.
The deal will enable Oodrive to expand by broadening its range of solutions, in order to become a key trusted partner for its clients in France and internationally and also enable the group to pursue potential external growth opportunities.
Antoine Flamarion, Tikehau Capital co-founder declared: “We are delighted to have been the lead manager in this deal supporting Oodrive’s development. Since its creation, the company has always been at the forefront of innovation and proven its remarkable agility in anticipating and addressing market needs. We are convinced of the strong growth potential of Cloud-based data-sharing and protection solutions and we share the ambition of creating the undisputed European leader in this field”.
Tikehau Capital has taken part in this deal through direct investment alongside the Novi 1 fund, MI3 and NextStage. Novi 1 is a specialised loan fund, launched in July 2015 by the CDC, the French Federation of Insurance Companies (FFSA) and 21 other institutional investors, including 19 insurance companies and 3 pension funds, designed to support growth, international development and innovation among small and mid-sized French companies.
Novi 1, a SICAV with 21-year maturity, is the first long-term investment fund securing funding through equity or other capital securities and/or senior debt in the form of bonds or loans.
The deal is expected to close in early May 2017 at the latest. Following the deal, the three company founders, Stanislas de Rémur, Edouard de Rémur and Cédric Mermilliod retain a majority stake in Oodrive.
Oodrive, the European leader in online file management. Since 2000, the Oodrive Group – a pioneering Cloud computing software developer in France – has been helping businesses to accelerate their digital transformation by providing 100% secure Cloud solutions for professionals, designed for file sharing, online backup and digital trust.
As the market leader in Europe for secure file management online, Oodrive places its entire expertise in security, ergonomics and innovation at the heart of its solutions to tackle the problems that companies face.
Today, the Group has over 320 employees located throughout Europe (France, Germany, Belgium, Switzerland and Spain) as well as in Brazil and Asia. 130 employees work at its R&D center in Paris, dedicated to developing solutions used by over one million users and nearly 15,000 companies across all sectors, from very small businesses (VSBs) to 80% of the 40 largest French companies listed on the stock exchange (CAC 40).
To combat sovereignty and security issues, data is hosted exclusively in Europe, meaning absolute confidentiality is guaranteed.
Oodrive was ranked 29th out of French publishers in the latest AFDEL/PWC report.
Source Tikehau Capital’s press release