Coalfire Systems, a Louisville, Colo.-based provider of IT audit and compliance management services to small and mid-sized businesses, has raised $5m in Series A financing from Baird Venture Partners.
The company intends to use the funds to support growth initiatives and continue to enhance its platform, Navis, which enable Coalfire to deliver governance, risk and compliance (GRC) services and keep pace with rapidly-changing regulations and best practices.
In conjunction with the funding, BVP Partners Jim Pavlik and Benedict Rocchio will join Coalfire’s board of directors.
Founded in 2001 and led by Chairman and CEO Rick Dakin, Coalfire is an IT Audit and Compliance firm that provides information technology (IT) audit, security assessment and IT compliance management solutions to companies in retail, financial services, healthcare, government and utilities.
Coalfire’s solutions are adapted to requirements under emerging data privacy legislation, including the PCI Data Security Standard, Gramm-Leach-Bliley Act, HIPAA/HITECH, NERC CIP, Sarbanes-Oxley and FISMA.