Resolver Inc said Thursday it secured another $4 million in growth equity from Klass Capital, an existing investor. Klass has invested a total of $18 million in Resolver. Toronto-based Resolver provides risk and incident management software.
March 10, 2016 06:00 AM Eastern Standard Time
TORONTO–(BUSINESS WIRE)–Resolver Inc. (“Resolver”), a leading provider of risk and incident management software, has secured an incremental $4M growth equity investment from its existing investor, Klass Capital (“Klass”). This brings Klass’ total capital investment in Resolver to $18M. The additional capital will enable Resolver to accelerate its product plans and continue to enhance its SaaS-based integrated risk offerings.
“Our company’s mission statement of transforming how companies think about risk is validated each time we speak to customers,” states Will Anderson, CEO of Resolver. “This subsequent round of funding from our existing investors, primarily Klass Capital, will allow us to accelerate our product road-map and go to market quickly with new application areas for existing customers and offer new customers more ways to manage issues related to risk in their organization.”
The security, risk, and compliance market opportunity has been cited by independent research analysts to exceed $1B per year; and in some cases exceed $10B per year. The current adoption of technologies related to this market is in double-digit growth according to independent analyst Michael Rasmussen of GRC20/20.
“As an indicator of market acceptance of our product offerings, Resolver achieved strong organic growth in 2015,” states Stephanie Ratza, CFO of Resolver. “This in a year where we have also completed integrations of the two newly acquired entities.”
“We are impressed with the team’s performance over the past six months,” states Daniel Klass, President of Klass. “In a relatively short period of time, Resolver has managed to increase the growth trajectory of the business, build a high performing culture, and deliver on their product vision.”
Resolver was formed through a combination of two leading risk management software providers. In December 2014, Klass acquired PPM 2000, a leading provider of incident management software. PPM 2000 then acquired Resolver and its suite of governance, risk and compliance products in April 2015. Together, the combined entity provides an integrated risk platform that helps organizations manage both physical and enterprise risk.
Resolver is the risk backbone for over 1000 of the world’s largest organizations. Our cloud software takes the uncertainty from risk based decisions, so that our customers can perform as planned. Resolver’s integrated platform supports application areas including Risk Assessment, Internal Control, Internal Audit, Compliance Management, Enterprise Risk Management and Incident Management. Resolver’s team is comprised of security, risk, and compliance experts supporting customers across 100 countries with offices in North America, United Kingdom and the Middle East.
About Klass Capital
Klass Capital is a Toronto-based private equity firm that acquires and provides growth capital to mission-critical enterprise software businesses. The firm invests between $2–20 million of equity in businesses that have achieved over $1 million in sales. Klass has $150 million of permanent capital to invest and plans to deploy approximately $20–40 million per year over the next five years. Klass has a collaborative approach with the management team of their investments. Klass has built a successful portfolio of 16 high-growth enterprise software businesses that delivers mission critical applications to their customers.