LogicGate, a Chicago, IL-based agile process automation platform enabling organizations to operationalize governance, risk, and compliance (GRC) programs, raised $24.75m in Series B funding.
The round includes a combination of equity and venture debt co-led by Jump Capital and High Alpha Capital, with participation from Greenspring Associates and Silicon Valley Bank.
This raise brings the total investment in the Chicago Techstars alum to $34m.
The company intends to use the funds to continue to expand its business reach, invest in initiatives to solve complex risk management challenges more holistically, including investments in content, frameworks, data partnerships and additional integrations.
Led by Matt Kunkel, CEO, LogicGate provides an agile GRC software solution that enables organizations to automate and centralize risk and compliance programs without the support of consultants or corporate IT. Reporting within the system allows risk and compliance teams to analyze and remediate issues immediately.
The company launched in 2015, announcing a $1.9 million seed round in December 2016 and a $7.5 million Series A in July 2018.