Norwest-backed Galvanize, formerly ACL, preparing for IPO: G&M

Galvanize Inc, formerly ACL Services Ltd, a Vancouver-based governance, risk management and compliance software provider, is preparing for an initial public offering (IPO), according to a report by the Globe and Mail.

President and CEO Laurie Schultz told the Globe that Galvanize aims to be “public company-ready by 2022.”

Founded in 1987, Galvanize two years ago secured a $50 million minority investment from U.S. venture capital and growth equity firm Norwest Venture Partners.

The deal was intended to accelerate the company’s consolidation of the integrated risk and performance software market. The Globe said Norwest has invested a total of US$70 million in Galvanize.

Photo: Laurie Schultz, president and CEO of Galvanize Inc.