- San Francisco-based private equity firm Luminate Capital Partners announced it made an investment in Quantivate. These are the details.
San Francisco-based private equity firm Luminate Capital Partners announced it has made an investment in Quantivate, which is a SaaS-based governance, risk, and compliance solution provider. The financial terms of the deal were undisclosed. In conjunction with this funding round, Luminate executives Hollie Moore Haynes, Scott Kingsfield, and Dave Ulrich are joining Quantivate’s board of directors.
“We founded Quantivate to help financial institutions automate risk management and compliance functions which historically have been siloed and manual. Our software equips organizations with a single integrated platform to efficiently and effectively manage these complex requirements. We believe that our partnership with Luminate will allow us to expand upon our foundation, accelerate product innovation, scale our team, and ultimately drive further value to our customers,” said Andy Vanderhoff, CEO and Founder of Quantivate.
How does Quantivate work? Quantivate’s SaaS platform helps financial institutions mitigate enterprise risk, maintain compliance with regulatory requirements, manage organizational policies and procedures and make informed, risk-based decisions that align with business objectives.
And Quantivate offers a suite of 8 SaaS modules, which automate activities across different compliance, risk, and audit functions in a single integrated platform.
“We are excited to partner with the Quantivate team to support their continued growth and success,” added Haynes.
Launched in 2005, Quantivate serves a customer base of leading credit unions, banks, and financial technology companies, including America’s Credit Union, Territorial Savings Bank, The Golden 1 Credit Union, Randolph-Brooks Federal Credit Union, and Bangor Savings Bank.
“Compliance and risk management requirements have become increasingly complex and burdensome for financial institutions in recent years. We believe Quantivate is extremely well-positioned to continue to address this trend,” explained Ulrich.
And Quantivate’s suite of risk and compliance modules equips organizations to build an integrated GRC architecture that can mature and strengthen any enterprise.
“Quantivate’s leading product suite and loyal customer base have strategically positioned the company to rapidly scale. We look forward to working with the team to capitalize on its strong momentum and expand its market leadership,” commented Kingsfield.
