MetricStream, a Palo Alto, Calif.-based provider of governance, risk and compliance solutions, raised $60m in funding.
The round was led by Sageview Capital with participation from previous investors Goldman Sachs and Kaiser Permanente Ventures. In conjunction with the funding, Ned Gilhuly, Sageview Capital’s co-founder and managing partner of Sageview Capital, joined MetricStream’s board of directors.
The company intends to use the funds for accelerate innovation and expand market leadership.
Led by Shellye Archambeau, CEO, and Gunjan Sinha, Executive Chairman, MetricStream MetricStream is a market leader in MetricStream provides enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions used by global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives.
Customers include Procter & Gamble, UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, NetApp, and United Technologies Corporation (UTC).
The company also owns and operates www.ComplianceOnline.com portal – a GRC advisory network and community.