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Iris Capital invests 4 M€ in Oodrive Technologies


Paris, November 29th, 2007

Oodrive Technologies, a French software vendor, leader in remote backup, online file sharing and collaboration solutions, has announced that it has raised 4 M€ in a venture capital round with Iris Capital.

Oodrive Technologies has a high quality SaaS (Software as a Service) platform and has already more than 6,000 corporate customers, which include more than 30% of CAC 40 companies. Oodrive has also established key partnerships with companies such as France Telecom, Completel or FNAC, and plans to extend its leadership in Europe in this field. In 2006, the company successfully completed the acquisition and integration of Mayetic. Break-even since 2004, with forecasted 2007 revenue of 4 M€, Oodrive currently employs 60 people, which is expected to double by 2009.

“These funds will enable us to strengthen our R&D, to expand in Europe and to seize acquisition opportunities”, said Stanislas de Remur, Chairman and CEO of Oodrive Technologies. “Iris Capital is very familiar with web-based services and will bring its experience to Oodrive’s management as a strategic partner”. To provide more value-added to its customers, Oodrive will extend the features of its current software solutions and will add new products to its current offering range.

Jean-Stéphane Bonneton, partner at Iris Capital, said “We are pleased to accompany Oodrive in this next growth phase. Its proprietary technological platform and its customer-oriented approach have been key success factors, enabling them to provide the best answers to the market’s demands. Such success factors will be amplified by new financial resources.”

About Oodrive Technologies
A pioneer of web-based services since 2000 Oodrive Technologies, a French software vendor, provides its clients with three main software solutions: iExtranet for secured online file sharing, AdBackup for remote back-up and Mayetic for online collaboration. More than 6000 companies of all sizes, from SoHos to SMEs and multinational companies, trust Oodrive. Strategic partnerships have also been established with ISPs and retailers such as Orange, Completel, AOL or FNAC.

For more information on Oodrive: www.oodrive.com
Contact Oodrive: Stanislas de Rémur + 33 1 46 22 32 01 - s.deremur@oodrive.fr

About Iris Capital
Iris Capital is a pan-European venture and development capital fund specialising in media, communication and IT. Since its inception in 1986, the Iris Capital team has invested in over 200 companies a total of more than €800 million. Iris Capital targets opportunities in high-growth technology or service companies, across various stages of development. It provides active support to its portfolio companies related to its specialisation and its experience. Based in Paris, the Iris Capital team has invested to date in 18 European countries.

For more information on Iris Capital: www.iriscapital.com
Contact Iris Capital: Jean-Stéphane Bonneton +33 (0) 1 45 62 73 52 - js.bonneton@iriscapital.com


Publisher Contact Information:

Iris Capital
+33 (0) 1 45 62 73 52
js.bonneton@iriscapital.com

Company profile of Iris Capital
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