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Preservica appoints CFO to support growth as digital preservation hits corporate agenda
Digital preservation company builds on global expansion plans following $3.8m investment from Mobeus Equity Partners
Oxford, UK and Boston, MA [19 April, 2017] Digital preservation specialist Preservica today announced the appointment of Paul Allman to the board as CFO.
Allman joins with several years’ experience in public and PE-backed high growth technology businesses, across Silicon Valley, Europe and the UK, most recently with TraceOne, suppliers to the world’s leading retailers. Allman’s focus is to build the right financing, legal and operational structures to support company growth during a time when increased compliance and regulation is driving the long-term digital preservation of corporate files and records up the management agenda.
“Joining the Preservica board was an easy decision, with ‘C’ level executives waking up to the fact that their organizations might be legally liable as their critical digital records become inaccessible in ten to fifteen years,” said Allman. “Demand for Preservica’s software is being driven by digital transformation initiatives and the need to keep digital information longer for compliance, legal defense and knowledge re-use. It’s an incredibly exciting time of great momentum for the business.”
Having secured £3 million (approximately $3.8 million) in growth funding from Mobeus Equity Partners, Preservica is already in use at over 100 corporate and public sector organizations world-wide, including the Associated Press (AP), HSBC, British Telecom, Lloyds, Unilever and Transport for London (TfL).
“Paul has a significant track record of growing technology businesses on a global stage and we are delighted to welcome him to the team at this time”, said Mike Quinn, CEO of Preservica. “We are expecting significant growth in the future as the imperative for long term file preservation reaches the boards of business. Having the right financial strategy in place to support this fast growth will be key.”
The value of safeguarding digital information spans every sector and has significant benefits. HSBC uses its rich repository of digital material to enhance the value of its 150-year+ old brand and to protect vital corporate records.
The Preservica User Group this month saw a doubling of numbers from last year with representatives from 14 countries. Speakers included Unilever (protecting its rich heritage of brands and logos) and Yale University (preserving over 1 PB of unique digital material including 4,400 Holocaust witness testimonials among other historic documents).