Secure your business with encrypted
cloud storage
Tresorit is an end-to-end encryption based ultra-secure cloud collaboration solution provider. The Company’s flagship product is a file sync & share (“EFSS”) application that was first launched in April 2013. It is designed for businesses for team collaboration across offices or on the road.
Investment rationale
Euroventures was the very first institutional investor in the company. The founding team was extremely young at that time, they have not finished the university yet. The technology was developed in the frame of a university research project. The founders’ talent and domain knowledge were so impressive that it convinced us to go ahead with the investment.
Privacy breaches, hacking, data theft had been on the rise and constantly on the media. We believed that the product and the technology could serve the security conscious audience well, while on the long run the product and a strong team with special domain expertise can be an attractive acquisition target for large players.
Growth
Euroventures with its co-investors provided several rounds of financing to the company. The initial investment financed the product development which took two years. Within three years after the product launch the Company grew from zero to close to €4m ARR. Employees grew from a handful to ca. 80 at the time of our exit.
Tresorit managed to climb the ladder from small firms to enterprise clients and had significant traction in the DACH region.
Exit
In a subsequent funding round in 2018 Euroventures sold its stake to the new investors due the fact that the fund was already very close to the end of its life.
The sales provided and excellent return for Euroventures and turned out to be a great investment for the new investors as well. In mid-2021 Tresorit was acquired by the Swiss Post, which is active in 25 countries, employs more than 54,000 people worldwide and generating a turnover of over €7 billion.
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