Private equity fund Turn/River Capital announced that it has acquired UK-based startup Huddle for an estimated $89 million.
Founded in 2006, Huddle is a enterprise document collaboration company that aims to help organizations across the globe collaborate intelligently. Huddle is the top SharePoint alternative for enterprise content collaboration in the cloud and is easy to deploy and manage, with guaranteed user satisfaction. Eighty percent of Fortune 500 companies, the UK central government and more than 100,000 organizations worldwide, including Unilever, Kia Motors, National Grid, and P&G, use Huddle securely to manage projects, share files, and collaborate with people inside and outside of their businesses.
Co-headquartered in London and San Francisco and with offices in New York City and Washington, D.C., Huddle had previously raised close to $90 million from venture capital firms such as DAG Ventures, Eden Ventures, Matrix Partners and Jafco Ventures.