Compliance and regulatory management business RegEd is set to be bought out by PE house Gryphon Investors.
RegEd’s management team and majority owner Falfurrias Capital Partners, will retain a stake in the business. Gryphon executive advisory board member and former Thomson Reuters chief customer officer Mark Schlageter will serve as chairman of RegEd.
The North Carolina-based RegTech provides compliance and regulatory management services for insurance companies, broker-dealers, banks, and other financial services companies.
RegEd provides its SaaS-based platform to more than 200 blue-chip customers. The company was founded in 2000 and is led by founder and CEO John Schobel.
Gryphon partner and head of the business services group Alex Earls said, “RegEd is a strong fit with our ongoing initiative focused on investing in market leading businesses within the Governance, Risk, and Compliance (“GRC”) sector.
“John Schobel and his management team have built a high-quality business and we are excited to partner with them to support the Company’s continued growth both organically and through acquisitions.”
Earlier this year insurance-based RegTech At-Bay closed a $13m Series A round co-led by Khosla Ventures and Lightspeed.
FRISS, a provider of analytics software for fraud, risk and compliance to P&C insurers, also closed a €15m Series A funding round late last year.
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