RapidRatings, a New York, NY – based financial health analytics company, completed a $30m growth investment.
FTV Capital, a growth equity firm specializing in innovative enterprise technology and services companies, made the investment. As part of the transaction, Kyle Griswold, FTV Capital partner, has joined the RapidRatings board of directors. LLR Partners remains a shareholder and on the company’s board.
The company intends to use the funds to accelerate technology development and the network of strategic partners.
Led by James H. Gellert, chairman and CEO, RapidRatings provides a Financial Health System (FHS) used by hundreds of Fortune 1000 companies to understand the financial health of third parties including suppliers, customers, underwriting counterparties, borrowers and investors.
Unlike traditional ratings providers, FHS uses a proprietary algorithm-based technology based on current financial data. The result enables risk, procurement and credit professionals to gain transparency, build third-party relationships, and to make improved business decisions.