PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Keensight Capital and TIME for Growth to sell stakes in Oodrive

Private equity firm Keensight Capital and digital growth capital specialist TIME for Growth are to sell their stakes in Oodrive, a provider of sensitive data management SaaS solutions, to a pool of investors led by Tikehau Capital.

TIME for Growth acquired an interest in Oodrive in 2011 and Keensight Capital followed in 2013.
 
Created in 2000, Oodrive develops online file sharing, backup and digital trust solutions for professionals, in line with international security standards. Oodrive's technologies are used in more than 90 countries and in 14 languages. They support the needs of over one million users and close to 15,000 organisations of all sizes across all sectors. 
 
The company currently has more than 350 employees located throughout Europe (France, Germany, Belgium, Switzerland and Spain), Brazil and Asia. It also has a Paris-based R&D centre pooling the expertise of over 150 people.
 
To protect data sovereignty and confidentiality, Oodrive can store its customers' data in Europe, in South America, or in Asia.
 
"Oodrive has expanded rapidly in less than four years," says Philippe Crochet, partner at Keensight Capital. "We're delighted to have assisted its teams and management in this important stage of growth. Oodrive has become a European leader in data sharing and a stand-out player in cloud computing, which is a preferred sector for us. Thanks to its positioning with major customers, Oodrive can offer its new shareholders very promising prospects for the future."
 
Jean-Luc Cyrot, partner at TIME For Growth, adds: "Led by a tightly-knit, visionary management team, Oodrive has developed an unrivalled offering over the years that is recognised across the entire market. TIME For Growth was truly delighted to help and support the company in its development, enabling it to more than triple its revenue over that period."
 
"We're very pleased with everything we've accomplished together alongside the TIME For Growth and Keensight Capital teams, who have lent us their support over the past few years to implement our growth strategy," says Stanislas de Rémur, chairman and co-founder of Oodrive. "Their expertise and their networks have been precious assets for us in expanding the business."

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured