Venminder, an Elizabethtown, KY-based provider of third party risk management solutions, completed a $5m funding round.
The round was led by existing investors Bain Capital Ventures and MissionOG.
The company will use the funds to accelerate the development of enhancements for large enterprises with complex programs.
Led by James Hyde, CEO, Venminder is a provider of SaaS based third party risk management solutions to large enterprise-grade companies that want an “all-in-one” partner to optimize and streamline processes. The software was built with the capabilities to drive an entire third party risk management program, as well as in-house teams to identify and risk assess vendor documentation and data for oversight analytics or insights.
Venminder already holds a large library of completed assessment data and documentation on thousands of U.S. vendors.