A daily newsletter summarizing recent activity & interesting start-ups globally
RECENT NOTABLE ACTIVITY – GRC SOFTWARE
- Prevalent, a provider of vendor risk management software for enterprises raised $60M Series C from Insight Venture Partners. Link
- TraceLink, a risk management platform for pharmaceutical and lifesciences industry raises $51.5M led by Goldman Sachs Growth Equity along with existing investors FirstMark Capital, Volition Capital and F-Prime Capital. Link
- Safety Culture, a mobile-first audit solution provider for workplace safety management raises $23M Series B led by Index Ventures along with participation from Blackbird Ventures and Atlassian Co-Founder. Link
- Riskalyze, a tool to measure client risk tolerance raises $20M in a round led by FTV Capital. Link
- ICIX, a cloud-based supplier collaboration & compliance software raised $15.5M from Arrowroot Capital. Link
- Proficio, cloud-based IT security & compliance service provider raised $12M in a round led by Kayne Anderson Capital Advisors. Link
- EverCompliant, a provider of fraud & risk management software for banks & payment processors raised $9.5M in a round led by Arbor Ventures along with participation from Carmel Ventures, StateFarm Ventures and Nyca Partners. Link
- Guardian Analytics, behavioural analytics-based online fraud prevention solution for banks raised $5M from undisclosed investors. Link
- Hexatier, provider of database security, compliance & monitoring solution has been acquired by Huawei for $42M. Link
- Reval, a cloud-based accounting & risk management software has been acquired by ION Group for an undisclosed amount. Link
- ConceptOne, provider of risk & performance analytics solutions has been acquired by Axioma for an undisclosed amount. Link
SOME INTERESTING STARTUPS FOUND
LegalBot (2016, Sao Paulo) – Provides AI-based compliance solution for enterprises to manage operations risk and ensure compliance.
LEADER BOARD – GRC SOFTWARE
Integrated GRC – Horizontal
Metric Stream (1999, Palo Alto, $150M) – Provides integrated GRC and Quality Management Solutions for businesses to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and corporate governance initiatives. Backed by Goldman Sachs, KPCB, Integral Capital Partners, Gold Hill Capital, Sageview Capital, Saints Capital, Kaiser Permanente Ventures, Blade Ventures, Montage Capital and The Camelot Group.
OpenPages (1996, Waltham, $64M, Acq.) – Provides GRC solution for enterprises to develop a compliance and risk management strategy across various functions including operational risk, financial controls management, IT risk, compliance and internal audits. Acquired by IBM in September, 2010.
Integrated GRC – Industry Vertical – Banking
Fenergo (2009, Dublin, $80M) – Provides client lifecycle management platform for financial institutions to manage the end-to-end regulatory onboarding process from onboarding to management of client and counterparty data and compliance standards. Backed by Insight Venture Partners, Investec and Aquiline Capital Partners.
Guardian Analytics (2005, Mountain View, $61.2M) – Provides behavioral analytics and machine learning solutions for financial institutions to mitigate fraud risk and prevent criminal attacks targeting retail and commercial banking clients. Backed by Foundation Capital, Western Technology Investment, Sutter Hill Ventures and Costanoa Venture Capital.
Integrated GRC – Industry Vertical – Trading
Actimize (1999, Petah Tekva, $24M, Acq.) – Provides risk and compliance solutions for financial institutions, as well as government regulators to identify financial crime, prevent fraud and ensure regulatory compliance. Acquired by NICE Systems in July, 2007.
Firm58 (2005, Chicago, $19M) – Provides web-based financial management software to manage the processes associated with fees, commissions and compliance. Backed by Pritzker Group and North Bridge Venture Partners.
Integrated GRC – Industry Vertical – Healthcare
MedHOK (2009, Tampa, $77.5M, Acq.) – Provides SaaS platform for healthcare providers to ensure compliance with federal and state requirements, and manage the health plan members’ clinical requirements. Acquired by Hearst in June, 2016.
Enclarity (2005, Aliso Viejo, $15.5M, Acq.) – Provides software solutions for healthcare providers and insurers to improve claims processing, provider directories, regulatory compliance and marketing optimization. Acquired by LexisNexis in September, 2013.
IT GRC
Wynyard Group (2012, Christchurch, IPO) – Provides critical threat assessment and advanced crime analytics software for government and financial services to assess threats and event management. Went public in 2013.
Check Point Software (1993, Tel Aviv, IPO) – Provides security and GRC solution for businesses to manage network security, endpoint security, data security and enhance security management. Went public in 1996.
IT GRC – Security
Qualys (1999, Redwood City, IPO) – Provides cloud-based security and compliance solutions for enterprises to simplify security operations and lower the cost of compliance by delivering critical security intelligence and automating the full spectrum of auditing, compliance and protection for IT systems. Went public in September, 2012.
LogicalApps (2000, Irvine, $14M, Acq.) – Provides automated Governance, Risk, and Compliance (GRC) controls for enterprises to automate GRCactivities like SoD, fraud prevention with continuous monitoring etc. Acquired by Oracle in October, 2007.
IT GRC – Identity and Access Management
Okta (2008, SF, $228.5M) – Provides cloud-based identity and application access management solution for enterprises to securely manage access governance from any device. Backed by Greylock Partners, Andreessen Horowitz, Sequoia Capital, Khosla Ventures, Glynn Capital, Altimeter Capital, Floodgate and Janus.
CyberArk (1999, Petah Tikva, IPO) – Provides security solution for enterprises to secure, manage and monitor privileged account access and activities. Went public in June, 2014.
IT GRC – Enterprise Content Management
M-Files (2001, Dallas, $44M) – Provides enterprise information management solutions to eliminate information silos and provide easy access to the right content from any core business system and device. Backed by Partech Ventures, Finnish Industry Investment and Draper Esprit.
Daegis (1999, Irving, IPO, Acq.) – Provides enterprise information management solution for information archiving, information governance, application development and migration. Acquired by OpenText in November, 2015.
QEHS GRC
Intelex (1992, Toronto, $122M) – Provides Environmental, Health, Safety (EHS) and Quality management software solutions for businesses to ensure safety, mitigate organization-wide risk and maintain compliance with regulatory requirements. Backed by JMI Equity and HarbourVest.
Hara (2008, Minneapolis, $45M, Acq.) – Provides cloud-based software for sustainability professionals to track, report, and execute against cost savings opportunities, compliance requirements, and operational improvements. Acquired by Verisae in October, 2013.
Supply Chain Risk
TraceLink (2009, Woburn, $77M) – Provides an online platform for global distribution, visibility and traceability of pharmaceuticals to limit the sales of counterfeit drugs. Backed by FirstMark Capital, Godman Sachs, Volition Capital, F-Prime Capital Partners.
ICIX (2003, SF, $52M) – Provides cloud-based supplier collaboration and compliance software for businesses to mitigate supply chain risk, ensure compliance with regulatory requirements and CSR. Backed by Draper Fisher Jurvetson, Starfish Ventures and Wesfarmers.
Leaderboard includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
For latest updates, visit GRC Software feed.