Growth investment to enhance Archive360’s goal of helping companies balance data management with security, regulatory, legal and business intelligence obligations across new markets
Archive360, the archiving and information management platform, announced a strategic investment from Leeds Equity Partners, the New York-based private equity firm dedicated exclusively to partnering with management teams in the information and knowledge industries. The investment represents the latest milestone for Archive360, the industry-leading innovator in Enterprise Information Archiving, a discipline that has gained even greater urgency in a business environment defined by remote access to cloud-based storage and services and follows a period of stellar growth for the company including a series of enterprise customer wins worldwide in multiple industries, increased recognition from industry analysts and an exponential increase in recurring revenue.
Archive360 represents the fourth investment for the firm’s latest fund and its fifth investment within the legal and Governance, Risk, and Compliance (“GRC”) sectors, a long-term area of investment focus for Leeds Equity. Terms of the transaction were not disclosed.
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“The continuing global pandemic and growing cybersecurity risks have forever changed organizational attitudes toward information governance and security. The new normal demands innovative solutions that leverage advances in AI/ML and can balance high-scale cloud-based information management with up-to-date compliance, best-in-class security and enhanced business intelligence capabilities,” said Robert DeSteno, co-founder and CEO of Archive360. “We are excited to work with the team from Leeds Equity Partners to accelerate our innovation, drive growth and increase the value and opportunities we can deliver for our customers and partners worldwide.”
Leeds Equity seeks to invest in leading companies in the information and knowledge management sectors, where the firm can partner with management to drive innovation, enhance business growth and generate best-in-class customer outcomes. The investment will enable Archive360 to expand its global footprint, accelerate product innovation, and continue to fulfill the expanding requirements of its customers across regulatory, data security, compliance, legal, and business intelligence use cases.
“The proliferation of data, increasing regulation, and growing cybersecurity risks are challenging corporations to manage their information assets compliantly, securely and cost-effectively, driving a heightened focus on information management solutions,” said Jacques Galante, Partner at Leeds Equity. “Archive360 has developed a unique enterprise-grade, cloud-native solution that addresses the evolving information governance requirements of leading global organizations, setting it apart from other industry participants that have not kept pace with developing trends.”
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“Partnering with Leeds Equity is a major milestone for Archive360 as we look to accelerate our investment in innovation and growth to unlock new opportunities and transform the enterprise information management sector,” added Chief Technology Officer, Tibi Popp. “We chose to partner with Leeds Equity given their partnership philosophy and extensive domain expertise within the information governance industry.”
“The Archive360 team’s relentless focus on innovation and customer success has created a strong foundation for continued growth,” added Kevin Malone, Principal at Leeds Equity. “Archive360 is extremely well positioned to capitalize on the strong market opportunity given its innovative software platform, and we are excited to embark on the next chapter of growth with Bob, Tibi, and the entire Archive360 team.”
Dinan & Company, LLC served as financial advisor and Proskauer Rose LLP provided legal counsel to Archive360. Reed Smith LLP served as legal counsel to Leeds Equity Partners.
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