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10
Jan

Compliance tools developer GAN Integrity closes Series B on $15m

GAN Integrity, a developer of compliance and risk management software, has closed its Series B round on $15m.

The funding round was led by Aquiline Technology Growth, with participation also coming from undisclosed existing investors of the company. Last year, the RegTech company pulled in $9m in capital from NorthCap, Chicago Ventures, MissionOG, and Cultivation Capital.

GAN Integrity provides an all-in-one integrated compliance solution to help global businesses manage compliance as well as monitor and report on business operations. The automated solution conducts third-party due diligence through a risk-based approach and can establish a customised workflow to offer a full overview of the third-party’s integrity profile.

Risk management tools are also available which lets users identify, assess, mitigate and monitor all risks in real-time.

This investment has come after a period of strong growth for GAN, which doubled in revenue and customer base in 2018.

It also follows on from the recent launch of GAN Connect, a new generation of unified compliance which helps businesses to manage third-party relationships, new regulations and enterprise risk.

Through the injection of capital, the company will look to further global expansion and offer customers with stronger compliance solutions. Client can tailor the platform to their specific needs and business processes across risk, policy, due diligence, requests, investigations and training.

Aquiline Technology Growth’s Michael Cichowski said, “GAN is transforming the compliance software market through their approach to connecting all aspects of a company’s program into one unified, end-to-end solution.

“Teams are not only leaning on GAN to help run their compliance programs more effectively, but the technology is enabling them to operate more strategically and make an even greater business impact.”

Last year, the company formed a partnership with Control Risks to deploy a third-party due diligence solution which helps compliance teams to manage risk.

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