The amount of the deal was not disclosed.
The investment, which represents EtQ’s first institutional investment since its founding, will enable the company to accelerate its innovation efforts, enhance its product development, and expand its international operations.
Founded in 1992 by Glenn McCarty, CEO, EtQ provides SaaS and on-premises software solutions that enable organizations to adhere to regulatory and commercial standards, manage supplier relationships, and sustain competitive advantage.
The company has main offices located in the U.S. and Europe.
TCV’s investment in EtQ was funded from TCV IX, a growth equity fund with $2.5 billion of committed capital.