Draper Esprit, a leading venture capital firm investing in and developing high growth digital technology businesses, announces that its portfolio company Trustpilot, the leading independent platform for companies to build trust with consumers, has raised $55m in its Series E funding round.
The Company first invested in Trustpilot in 2013, with follow-on investments in 2015 and 2017. The investment round is supportive of the NAV uplift reported at 30 September 2018, including the benefit of the acquisition of the DFJ Europe X fund in November 2018 which increased the Company’s stake in Trustpilot.
The series E fundraise was led by Sunley House Capital Management with strong participation from other existing investors including Draper Esprit; it will help Trustpilot accelerate its market leading position through investment in marketing, its technology platform and people.
Founded in 2007, Trustpilot now has more than 58m reviews of over 265,000 company domains from 150+ countries. Today, Trustpilot is one of the top 1% 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.
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.”