Apicap exits Nuxeo, Goldman Sachs and Kennet invest $30m

Goldman Sachs and Kennet respectively committed $20m and $10m. Their $30m joint investment represents the largest round of funding ever raised by the company.

With Apicap's backing, Nuxeo significantly developed its presence in North America, where it launched in 2010 with the opening of a New York office. The group's US sales represent a third of its current revenues.

The new backers will continue working on strengthening the group in Europe, the US and Japan, in part by expanding its sales teams.

Previous funding
In December 2008, OTC provided Nuxeo with a $2.6m funding round, taking a 41% stake in the company.

In June 2010, the GP committed a further $3.3m after the company's successful launch in North America and the opening of an office in New York.

In September 2013, OTC Asset Management and OTC Extend provided another $3.8m round of growth capital funding to Nuxeo, aiming to support the group's consolidation in the US market.

Company
Founded in 2008 and based in Paris and New York, Nuxeo offers an enterprise content management software to help Europe and US-based companies boost their content.

Among its 1,000 customers, the company counts Netflix, the US Navy, Boeing, Leroy Merlin, Orange, Agence France Presse and Voyages-SNCF.

It currently generates around €10m of revenue, having more than tripled its turnover since 2010 from €3.14m.

People
Goldman Sachs Private Capital – Christian Resch (executive director).
Kennet Partners – Michael Elias (managing director).

Advisers
Vendor – Rothschild & Cie, Virginie Lazès (corporate finance); Gordon S Blair, David de Pariente (legal).
Equity – Jones Day, Renaud Bonnet, Emmanuel de la Rochethulon, Robert F Mayo, Alexandre Wibaux (legal); Gide, David-James Sebag (legal).
Company – Joffe & Associés, Thomas Saltiel (legal). 

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• Topics
• France
• Exits
• Expansion
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• France
• Kennet Partners
• Apicap
• Goldman Sachs