MirrorWeb, a digital archiving firm based in Manchester, has secured $63 million in growth equity investment from Mainsail Partners.
- The substantial investment aims to bolster MirrorWeb’s expansion in both the UK and US markets, highlighting its innovative archiving platform.
- MirrorWeb’s Insight platform offers comprehensive communication capture and monitoring, crucial for compliance in regulated industries.
- Mainsail Partners’ involvement introduces new board members and reinforces confidence in MirrorWeb’s leadership and strategy.
- The investment deal underscores the effectiveness of MirrorWeb’s leadership and business model, especially in entering the US market.
MirrorWeb, a specialist in digital archiving and surveillance, has successfully attracted a growth equity investment of $63 million from the Texan investment firm, Mainsail Partners. This strategic funding will not only facilitate MirrorWeb’s ongoing growth in the UK but also reinforce its market presence in the US, allowing them to scale their operations efficiently. Moreover, this financial boost enables Maven, an earlier investor, to achieve a significant return on its investment.
Established in 2016, MirrorWeb’s primary mission is to provide a robust and user-friendly communication supervision platform for financial services firms, governmental agencies, and other regulated sectors worldwide. Their acclaimed Insight platform empowers clients by capturing, archiving, and monitoring communications across various channels, including websites, emails, mobile, social media, and instant messaging. This technology ensures clients adhere to pertinent regulatory standards effectively and comprehensively.
Echoing the increasing importance of market integrity and investor protection, David Clee, co-founder and CEO of MirrorWeb, stated, ‘Regulators have never been more focused on ensuring the integrity of financial markets, protecting investors and preventing systematic risk to our economy.’ He emphasized that Mainsail’s resources will be pivotal in supporting financial institutions navigating this regulatory landscape.
The investment also sees key additions to MirrorWeb’s board, including David Farsai and Garret Jackson from Mainsail Partners, alongside Romir Bosu, CEO of Nadavon Capital Partners. Mainsail Partners recognize the global trust in MirrorWeb’s solutions to enhance compliance management amidst expanding communication channels.
Additionally, this deal marks a significant milestone for Maven, illustrating a successful exit strategy with a 4.0x return on cost for the Maven VCTs, and a 5.1x return on cost for NPIF Maven Equity Finance. Maven’s prior investment had significantly paved the way for MirrorWeb’s entrance into the US market, underpinned by David Clee’s strategic relocation to Austin, Texas.
Advisory firms played a crucial role in this transaction with DC Advisory advising MirrorWeb financially, alongside contributions from Squire Patton Boggs on legal matters, BDO on financial diligence and tax, GRAPH Strategy on commercial diligence, and Leckie Kershaw on technology diligence.
MirrorWeb’s recent investment demonstrates the strength of its leadership and platform, positioning it favorably for continued growth.
