Luminate Capital Partners has made an investment in Woodinville, Washington-based Quantivate, an SaaS governance, risk and compliance solution provider. No financial terms were disclosed. In connection with the investment, Hollie Haynes, Scott Kingsfield and Dave Ulrich from Luminate will join Quantivate’s board of directors.
SEATTLE and SAN FRANCISCO, November 19, 2019 – Quantivate, a leading SaaS governance, risk and compliance solution provider, announced today that it has received a strategic growth investment from Luminate Capital Partners, a San Francisco-based private equity firm.
Quantivate’s SaaS platform helps financial institutions mitigate enterprise risk, maintain compliance with regulatory requirements, manage organizational policies and procedures and make informed, risk-based decisions that align with business objectives. Quantivate offers a suite of eight SaaS modules which automate activities across different compliance, risk, and audit functions in a single integrated platform.
Founded in 2005, Quantivate serves a customer base of leading credit unions, banks and financial technology companies, including America’s Credit Union, Territorial Savings Bank, The Golden 1 Credit Union, Randolph-Brooks Federal Credit Union, and Bangor Savings Bank. In 2018, Quantivate was selected by Credit Union National Association (CUNA) as the exclusive compliance technology solution provider to help CUNA’s member credit unions manage compliance requirements.
Andy Vanderhoff, CEO and Founder of Quantivate, said, “We founded Quantivate to help financial institutions automate risk management and compliance functions which historically have been siloed and manual. Our software equips organizations with a single integrated platform to efficiently and effectively manage these complex requirements. We believe that our partnership with Luminate will allow us to expand upon our foundation, accelerate product innovation, scale our team, and ultimately drive further value to our customers.”
“We are excited to partner with the Quantivate team to support their continued growth and success,” said Hollie Haynes, Founder and Managing Partner at Luminate. Dave Ulrich, Principal at Luminate, added, “Compliance and risk management requirements have become increasingly complex and burdensome for financial institutions in recent years. We believe Quantivate is extremely well positioned to continue to address this trend.”
Scott Kingsfield, Operating Partner at Luminate, said, “Quantivate’s leading product suite and loyal customer base have strategically positioned the company to rapidly scale. We look forward to working with the team to capitalize on its strong momentum and expand its market leadership.”
In connection with the investment, Hollie Haynes, Scott Kingsfield, and Dave Ulrich from Luminate will join the Quantivate Board of Directors.
Financial terms of the transaction were not disclosed.
Kirkland & Ellis, LLP served as legal advisors to Luminate Capital. Marks Baughan served as financial advisors and Reed Pruett Walters Larsen PLLC served as legal advisors to Quantivate.
Quantivate is a market leader in governance, risk and compliance software and services. Since 2005, organizations both large and small have used Quantivate’s integrated platform to reduce risk, boost performance and drive strategic decision-making. The company’s suite of risk and compliance modules equips organizations to build an integrated GRC architecture that can mature and strengthen any enterprise. Visit www.quantivate.com.
About Luminate Capital Partners
Luminate Capital Partners is a private equity firm focused on making investments in enterprise software companies. Luminate partners with management teams to provide flexible capital to drive strategy, growth and operational improvements. For more information, visit www.luminatecapital.com.