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Draper Esprit, the Irish State investment fund-backed venture capital group, has doubled its equity stake in the online consumer review company TrustPilot.
The VC firm is investing a further $6.9 million (€6.5 million) in the company to bring its total investment to £11 million (€12.6 million). It first invested in TrustPilot in 2013, with a follow-on investment coming two years later.
Founded in 2007 by Peter Holten Munhlmann in Copenhagen, Trustpilot is a global, multi-language review community that has customers in 65 countries. It employs about 500 people and about 500,000 new reviews are posted on its site every month.
Trustpilot has offices in New York, London, Denver, Copenhagen and Melbourne.
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Draper Esprit, whose Irish business is headed up by serial entrepreneur Brian Caulfield, is backed by the Ireland Strategic Investment Fund.
It raised about €100 million when it listed on the junior London and Dublin stock markets in June 2016.
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