Announcements | Portfolio Updates
Tiugo Technologies Acquires Uploadcare
January 17, 2024
The acquisition marks Vendep Capital’s second exit to PSG and third exit to a large US private equity fund.
Tiugo Technologies, a PSG portfolio company specializing in developer tools and solutions for content creation and digital collaboration, announces the acquisition of Uploadcare, a leading file management and content delivery network (CDN) provider. The financial details of the transaction remain undisclosed.
Uploadcare Inc., founded in 2011 in the US, offers digital asset upload, optimisation and smart storage solutions with an enterprise-grade CDN. It has earned the trust of global companies, including L’oreal, Mozilla, Stackshare, Prezly, and more. In 2019, Vendep Capital invested in Uploadcare along with Runa Capital to support the company’s growth.
Mark Hatton, PSG Senior Advisor and CEO of Tiugo Technologies, expressed excitement about the acquisition, stating, “We’re honored to welcome Uploadcare into our suite of innovative platforms. Its enterprise-grade file management and CDN align with our commitment to providing developers with market-leading, collaborative solutions. We believe this marks a turning point in our journey to shape the future of technology and empower content creators worldwide.”
Igor Debatur, CEO of Uploadcare, shared his perspective, stating, “We built Uploadcare with a single objective in mind – to make it simple and easy for software developers to manage files for their projects. Through continued innovation, we are committed to providing our diverse, digital-forward customer base with the solutions they require. We’re eager to continue serving our customers in even more powerful ways in collaboration with Tiugo and with the support of PSG.”
The acquisition marks Vendep Capital’s second exit to PSG and third exit to a large US private equity fund. Timo Felin, Investment Director at Vendep Capital, emphasized the significance of Uploadcare’s journey, stating, “This team truly showed their worth and continued to grow in a tough market and amidst giant competitors, which underlined the value of iterative improvements and solid tech. These are the teams Vendep is happy to back and work with to grow to new heights. Having PSG Equity on the buy-side again accentuates the successful journey Vendep portfolio companies make from investment to exit.”
Founded in 2011, Uploadcare is a file management and content delivery network (CDN) solution for software developers. Its AI-powered platform facilitates smart storage solutions, object recognition, malicious content detection, URL API for image optimization, document and video conversions, file uploader, image editor widget, and enterprise-grade CDN.
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The acquisition marks Vendep Capital’s second exit to PSG and third exit to a large US private equity fund. Tiugo...