MetricStream, a Palo Alto, Calif.-based provider of governance, risk and compliance solutions, has received $60 million in funding. Sageview Capital led the round with participation from previous backers Goldman Sachs and Kaiser Permanente Ventures. In addition to the funding, Ned Gilhuly, Sageview Capital’s co-founder and managing partner of Sageview Capital, has been added to MetricStream’s board of directors.
September 04, 2014 | Palo Alto, California: MetricStream, a market leader in Governance, Risk, and Compliance (GRC) solutions has raised $60 million in a strategic financing round led by top investment firm Sageview Capital. Existing investors Goldman Sachs and Kaiser Permanente Ventures also contributed to the financing round. With the new investment, Ned Gilhuly, Co-Founder & Managing Partner of Sageview Capital, will join MetricStream’s Board of Directors.
MetricStream is a leading provider of enterprise and cloud applications for GRC. Organizations world-wide utilize MetricStream GRC applications, as well as Zaplet apps developed by MetricStream partners, for effective corporate governance, risk management, regulatory compliance, and business performance. As corporations evolve into the digital businesses of the future, they face increasingly complex risks, regulatory requirements and operational environments, thus firmly establishing GRC as a top business priority for senior executives who seek to harness risk intelligence and analytics to drive business performance.
“MetricStream’s vision of Pervasive GRC is being adopted at companies across all industries and sizes to transform governance and risk management into a federated and collaborative approach, fully embedded within business processes and initiatives,” said Shellye Archambeau, CEO of MetricStream. “This investment, led by Sageview Capital, will further enable us to accelerate our innovation and market leadership.”
“We greatly value this partnership with Sageview Capital and welcome Ned Gilhuly to MetricStream’s Board as we continue to extend MetricStream’s leadership in GRC,” said Gunjan Sinha, Executive Chairman of MetricStream.
“MetricStream impressed us not only with their visionary outlook for GRC, but also with their breadth of customer success amongst a who’s who of Fortune 500 enterprises and mid-market thought leaders,” said Ned Gilhuly, Co-Founder & Managing Partner at Sageview Capital. “GRC is central to the success of every business today, and we are excited to work with the management team to capitalize on this significant market opportunity. We are delighted to have MetricStream in our portfolio.”
About Sageview Capital
Sageview Capital is a private investment firm that makes growth capital investments in small and mid-sized companies, focused primarily on the technology, financial services, and energy sectors. The firm’s investments include Alfresco, Avalara, GoPro, Reflexis, EverBank Financial, United Capital and Exaro Energy III. The firm was founded in 2006 by Ned Gilhuly and Scott Stuart, both formerly partners of Kohlberg Kravis Roberts & Co. (KKR). Sageview Capital has offices in Greenwich, Connecticut; Palo Alto, California; and Stockholm, Sweden. For more information, visit www.sageviewcapital.com.
MetricStream is a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include Procter & Gamble, UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, NetApp, and United Technologies Corporation (UTC). MetricStream also owns and operates www.ComplianceOnline.com portal – the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).