ProcessUnity, a leading provider of cloud-based software for risk management, today announced that it has received a majority growth capital investment from Long Ridge Equity Partners. The new capital will be used to further accelerate the company’s growth in the Third-Party Risk Management and Integrated Risk Management sectors, and to provide partial liquidity to existing shareholders.
Organizations rely on ProcessUnity’s highly configurable, easily deployed cloud-based tools to address a variety of applications including Third-Party Risk Management, Policy & Procedure Management, Compliance Management and more. Leading financial services firms and commercial enterprises have adopted ProcessUnity’s Vendor Cloud solution to automate the onboarding, due diligence and assessment processes associated with Third-Party Risk Management – shifting away from manual spreadsheets or legacy systems. ProcessUnity helps mitigate brand and reputational risk by providing a holistic view of an organization’s vendor population, including visibility into vendor security practices, policies and performance.
“We are excited to announce our partnership with Long Ridge, given their prior expertise in the broader compliance technology space and their impressive track record with high-growth companies,” said Todd Stone, CEO and co-founder of ProcessUnity. “Long Ridge’s investment will allow us to continue to enhance our global leadership position in Third-Party Risk Management while building out new technologies and services to better serve our rapidly expanding customer base.”
“ProcessUnity is widely recognized as a best-in-class solution for Vendor Risk Management,” said Kevin Bhatt, a Partner at Long Ridge. “We continue to be excited about the tailwinds in the third-party risk and compliance sector and believe ProcessUnity is well-positioned to provide cost-effective, scalable solutions to serve this market. We look forward to partnering with the ProcessUnity team to support their continued growth.”
“ProcessUnity has continued to execute on its plans in 2018 with a record number of new global brands selecting ProcessUnity to manage their third-party risk,” commented Sean Cronin, President of ProcessUnity. “We see tremendous opportunity for growth ahead and are delighted that Long Ridge shares our vision.”
ProcessUnity’s legal advisor was Morris, Manning & Martin with DCS Advisory serving as ProcessUnity’s exclusive financial advisor. Long Ridge Equity Partners was advised by Budd Larner, with Comerica providing senior financing for the transaction.