French software firm Oodrive raises €65 million to move into new markets

Oodrive, a French software company, has raised €65 million in a new funding round from Tikehau Capital, MI3, and NextStage.

Oodrive, based in Paris, provides secure data management services. The new funds will be used to accelerate its growth in its native and European markets as well as further push its international growth.

The round marks a record investment for an unlisted software company in France, Oodrive said. It is expected to close in May.

Currently the company employs 350 and has more than one million users in 15,000 organisations. It previous raised around €9 million in investment. Tightening regulations around data protection has aided Oodrive’s growth, the company said in a statement.

With this increasing demand on data sharing and data protection solutions, Oodrive is poised to become a European leader in the sector, according to Antoine Flamarion, co-founder of Tikehau Capital.