CONCORD, Mass., Sept. 18, 2018 (GLOBE NEWSWIRE) -- 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.
About ProcessUnity
ProcessUnity is a leading provider of cloud-based applications for risk management and service delivery management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. For public companies and regulated industries, ProcessUnity Risk Suite delivers effective governance and control, vendor risk mitigation, and regulatory compliance. For benefit plan administrators and other financial service firms, ProcessUnity Offer Management controls complex product offerings and strengthens client service experience. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts. For more information, visit www.processunity.com.
About Long Ridge Equity Partners
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial services and business services sectors. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value‐added partner to high‐growth businesses. Over the last fifteen years, Long Ridge’s principals have sponsored some of the most successful growth companies in the financial and business services sectors, providing strategic resources and capital to drive profitable expansion. Long Ridge manages over $400 million of committed capital. For more information on Long Ridge Equity Partners, please visit www.longridgecap.com.