- LogicGate, an agile process automation platform enabling organizations to operationalize governance, risk, and compliance, announced it raised $24.75 million
LogicGate — an agile process automation platform enabling organizations to operationalize governance, risk, and compliance (GRC) programs — announced that it has raised $24.75 million in a new round of funding. This round of funding includes a combination of equity and venture debt co-led by Jump Capital and High Alpha Capital with participation from Greenspring Associates and Silicon Valley Bank. Including this round of funding, LogicGate has raised a total of $34 million.
“This funding round is a testament to the continued belief of our investors in the future of LogicGate and what we’re building,” said LogicGate CEO Matt Kunkel. “Combined with Emily Heath’s addition to the board, the investment underscores the fact that the market is ready for a flexible GRC solution that helps risk, compliance and security professionals make strategic, informed choices every day.”
With this round of funding, LogicGate is going to continue empowering risk and compliance professionals to drive business value with its easy to use platform. And taking customer feedback into consideration, LogicGate will aggressively invest in initiatives to solve complex risk management challenges more holistically, including investments in content, frameworks, data partnerships and additional integrations.
“The risk and compliance software market is reaching new heights,” added DocuSign Chief Trust and Security Officer and LogicGate board member Emily Heath. “As risk mitigation strategies trend from reactive to proactive, organizations are looking for the right technology to support a single source of truth across all departments. LogicGate is poised to break through the market as an agile GRC platform that does just that.”
Risk management technology tends to be siloed within departments and managed with spreadsheets and emails thus leading to disparate data and an unclear picture of risk across an organization. And with LogicGate’s agile approach to GRC, all risk data is housed in a central repository rather than providing a singular source of truth from which to visualize, customize, and automate risk and compliance processes. Plus its no-code platform gives companies the flexibility to scale risk and compliance programs when necessary.
“GRC has been stuck in the back office for too long. The next stage of GRC technology demands a flexible approach, where organizations can see real business value and impact across all departments,” commented Jump Capital Managing Partner and Co-Founder Michael McMahon. “That’s why at Jump, we’re doubling down with our investment in LogicGate. As a forward-thinking, agile GRC platform, the potential for its veteran leadership and innovative engineering teams is exponential.”
