LONDON (ShareCast) - (Sharecast News) - Technology venture capital company Draper Esprit announced on Tuesday that its portfolio company Trustpilot - an independent platform which allows consumers to review companies - has raised $55m in its series E funding round.
The AIM-traded firm first invested in Trustpilot in 2013, with follow-on investments in 2015 and 2017.

It said the investment round was supportive of the net asset value uplift reported at 30 September last year, including the benefit of the acquisition of the DFJ Europe X fund in November, which increased Draper'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 said it would help Trustpilot accelerate its market-leading position through investment in marketing, its technology platform and people.

Founded in 2007, Trustpilot now had more than 58 million reviews of more than 265,000 company domains from over 150 countries.

Draper Esprit said Trustpilot was one of the top 1% most visited websites worldwide, and a leader in the UK, other European markets and North America.

Its brand was seen more than 3.5 billion times online each month.

"Trustpilot is a fantastic business that we've backed for some years," said Draper Esprit chief executive officer Simon Cook.

"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."

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