LogicGate secures $113m in Series C funding round

Risk and compliance software provider LogicGate has raised $113 million in a Series C funding round.

LogicGate counts SoFi, Zurich Insurance, and Cimpress among its customers

The round was led by US growth equity firm PSG with participation from exiting investor Greenspring Associates.

It takes the company’s total raised to around $156 million since its seed round in 2016.

LogicGate’s Risk Cloud platform allows financial companies to leverage its no-code applications to automate and manage governance, risk, and compliance processes to reduce potential security issues and compliance violations.

The Chicago-based firm counts SoFi, Zurich Insurance, and Cimpress among its “hundreds” of customers.

Matt Kunkel, CEO of LogicGate, says: “Today, the market for risk and compliance tools is experiencing significant growth and innovation, which we believe is similar to the CRM market 10-15 years ago.”

He adds his company is looking to “address the market demand for a holistic no-code platform” that will allow businesses to meet evolving risk and compliance management needs.

LogicGate says the new capital will be used to fund its expansion plans and further product development, including a risk quantification solution set to be released later this year.

Source: https://www.fintechfutures.com/2021/07/logicgate-secures-113m-in-series-c-funding-round/