Luminate Capital Partners has made an investment in StarCompliance, a provider of enterprise compliance and regulatory software solutions for the financial services industry. No financial terms were disclosed. Also, Hollie Haynes, Scott Kingsfield, Mark Haidet and Dave Ulrich have been added to StarCompliance’s board of directors. Robert W. Baird & Co. Incorporated, DLA Piper and Paley Rothman advised StarCompliance while Kirkland & Ellis LLP provided legal advice to Luminate.
ROCKVILLE, Md. and YORK, United Kingdom and SAN FRANCISCO, July 27, 2017 /PRNewswire/ — StarCompliance, LLC, the leading provider of enterprise compliance and regulatory software solutions for the financial services industry, announced today that it received an investment from Luminate Capital Partners, a San Francisco-based private equity firm, to support its global growth strategy.
StarCompliance’s software platform helps financial services institutions manage, prevent, detect, report and resolve employee conflicts of interest by providing an unmatched 360-degree view of employee activity across the enterprise. StarCompliance’s platform monitors critical regulated employee activities such as personal trading, gifts and entertainment, political contributions and outside business activities to ensure ongoing compliance and mitigate the operational and reputational risk of non-compliance.
“We are excited to work with the Luminate team and leverage their extensive experience helping software companies scale and succeed,” said Marc Epstein, CEO of StarCompliance. “This investment will help us further strengthen our market position and drive continued product innovation to best serve our clients.”
Since its inception in 2000, StarCompliance has rapidly grown its footprint to serve over 100 clients including leading global banks, investment management firms, insurance firms, pension plans, hedge funds and private equity firms in over 70 countries. StarCompliance is certified ISO 27001 and ISO 9001 and its highly configurable, multi-lingual platform supports all global currencies, enabling the company to meet the most stringent compliance and information security requirements from the largest, global diversified financial institutions.
“We are thrilled to partner with Marc Epstein and the StarCompliance management team to help the Company accelerate its growth,” said Hollie Haynes, Founder and Managing Partner at Luminate Capital Partners. “Regulatory requirements and the associated risks of non-compliance continue to increase for financial firms and many firms still manage this mission-critical process through manual or disparate in-house systems. We believe StarCompliance is addressing an immense global market opportunity with the industry’s leading technology platform.”
Hollie Haynes, Scott Kingsfield, Mark Haidet and Dave Ulrich will join StarCompliance’s Board of Directors.
Financial terms of the transaction were not disclosed. Kirkland & Ellis, LLP served as legal advisor to Luminate. Robert W. Baird & Co. Incorporated, DLA Piper and Paley Rothman advised StarCompliance.
StarCompliance is the leading provider of enterprise compliance and regulatory software solutions for the financial services industry. StarCompliance’s highly configurable platform automates the complex and burdensome processes associated with managing employee conflicts of interest by providing a 360-degree view of all employee activity across the enterprise. For more information visit: www.starcompliance.com.
About Luminate Capital Partners
Luminate Capital Partners is a private equity firm focused on investments in software and software-enabled services companies. Luminate partners with management teams to provide flexible capital to drive strategy, growth and operational improvements. For more information visit www.luminatecapital.com.