ACL, a Vancouver, British Columbia, Canada-based provider of SaaS platform for governments and large companies to quantify risk, stamp out fraud, and optimize performance, raised a $50m strategic minority investment.
The round was led by the growth equity team at Norwest.
The new investment will be used to accelerate the company’s consolidation of the $36 billion integrated risk and performance software market.
Led by Laurie Schultz, president and CEO, ACL aligns the activities of operations, finance, risk, compliance, and audit teams to deliver enhanced governance and reliable execution of organizational strategy. More than 7,000 existing customers in 140 countries worldwide work with the company to manage risk, detect fraud, identify operational waste, and efficiently comply with industry regulation.