LogicGate, a Chicago, IL-based provider of cloud software solutions for automating governance, risk, and compliance (GRC) processes through its Risk Cloud™ platform, secured $8.75m in growth funding.
Backers included Greenspring Associates and Silicon Valley Bank.
The company, which reached more than $40m in total funding, intends to use the funds to further work in its partner and customer advancements in the form of a new GRC ecosystem for customers, partners and prospects to explore all Risk Cloud offerings and create their ideal risk program and the focus on leading the market in risk quantification features and accelerate expansion into European markets.
Led by CEO Matt Kunkel, LogicGate is a provider of cloud-based solutions for automating governance, risk and compliance (GRC) processes. They allow customers to transform disorganized risk and compliance operations into agile enterprise risk management programs, tailored to their business needs. Companies like SoFi, CAPCO and Blue Cross Blue Shield of Kansas City, use LogicGate to accurately assess, monitor, action, and, when needed, pivot GRC processes, without the support of consultants or corporate IT.
In 2020, LogicGate made enhancements to the Risk Cloud platform, adding native integrations with Okta, Slack, and Jira to their integrations suite. The company doubled its library of out-of-the-box applications, which enable customers to implement best-practice GRC processes quickly.