Formstack, a leading form, document, and e-signature software provider, supporting over 32,000 customers worldwide, announced the acquisition of Open Raven, a leading data management and security company.
Along with data capture, Formstack will expand its workflow platform to include data discovery, classification, and visibility to enable more data compliance and activation into the workflow, with enhanced security and control. Open Raven CEO Dave Cole, the former Chief Product Officer of security industry giants Tenable and Crowdstrike will assume the role of Formstack’s Chief Technology Officer.
Open Raven’s Data Security Platform works at a massive scale and provides 360-degree cloud data visibility, eliminates unnecessary costs and risks, and streamlines compliance. And Formstack will integrate Open Raven (its second acquisition in months) and provide its customers the ability to layer in essential data visibility and control, removing friction from data capture, activation, and compliance.
The financial terms of the transaction were not disclosed.
KEY QUOTES:
“The best way to secure data is by integrating data security into the workflow. That way, organizations can be productive, efficient, cost-effective, and deliver results, while addressing ever-increasing security and compliance risk.”
- New Formstack Chief Technology Officer Dave Cole
“Our customers want to do more with their data. Open Raven puts organizations back in control of their data, enabling them to be more productive and fulfill their purpose efficiently and securely. With this acquisition, we will be able to provide broader data capabilities, utilize the power of AI, and enable our customers to automate and incorporate compliant data into workflows, transforming the way they work.”
- Formstack Chief Executive Officer Aled Miles
