Monday 14 October 2019

Draper Esprit portfolio company raises $55m

Draper Esprit CEO Simon Cook
Draper Esprit CEO Simon Cook
Ellie Donnelly

Ellie Donnelly

Trustpilot, a portfolio company of Dublin-listed Draper Esprit, has raised $55m (€48m) in a series E funding round.

Trustpilot provides a platform for companies to build better experiences with their consumers.

Draper Esprit first invested in Trustpilot in 2013, with follow-on investments in 2015 and 2017.

The funding round was led by Sunley House Capital Management, with strong participation from other existing investors including Draper Esprit.

Funds raised will be invested in the company’s marketing, technology platform and people.

Simon Cook, CEO at Draper Esprit, said: "Trustpilot is a fantastic business that we've backed for some years."

"They've built a market leading business model and have grown strongly since we initially invested in them in 2013. This new round of investment will enable them to consolidate their position as the world's leading platform for trust online."

Founded in 2007, Trustpilot now has more than 58 million reviews of over 265,000 company domains from 150+ countries.

Today, it is one of the top 1pc most visited websites worldwide and a leader in the UK, other European markets and North America.

Its brand is seen more than 3.5 billion times online each month.

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