In September 2024, Maven realised a significant majority of its investment in MirrorWeb through a sale to MainSail Partners, a US growth equity firm. MirrorWeb is a leading data archiving organization that helps firms create accurate and immutable records of digital content and communications. The business enables firms to cost-effectively capture, archive, and monitor their content for digital oversight and regulatory compliance, as well as preserving information of cultural or historical value.
Maven first supported the emerging business in 2018, and over multiple funding rounds, MirrorWeb grew rapidly, taking Maven’s total investment to over £6.2 million, helping it to consistently achieve year-on-year recurring revenue growth, and significantly grow its headcount. The profitable realisation generated a 4.0x return on cost for the Maven VCTs, including the value of a retained minority holding in the business and a 5.1x return on cost for NPIF Maven Equity Finance (which has exited its holding in full).
Maven supported us when we were a small start-up business, they believed in us as a management team and could see the potential in what we were trying to build. Following that original investment, they continued to support us through multiple follow-on funding rounds which were critical to the development of both our product and our commercial strategy. Throughout the six years we have worked together, Maven have provided genuine and valuable advice that has helped us to grow the business. The relationship between Maven and MirrorWeb has been a true partnership and I’m proud of what we have achieved together.
David Clee, CEO at MirrorWeb
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