ELIZABETHTOWN, KY, Venminder, a leading innovator in third-party risk management solutions, has raised a $33 million Series C funding round.
Venminder today announced that it has raised a $33 million Series C funding round led by new investor Silversmith Capital Partners, with participation from existing major institutional investors, Bain Capital Ventures and MissionOG. The company plans to use the proceeds of the capital raise to propel forward feature development from its product roadmap, capture additional share in core verticals and expand further into new markets.
Venminder offers a world-class SaaS platform that guides and streamlines third-party risk management. The Company is widely recognized for its solutions across all industries with most recently receiving the highest scores in 2 of 3 use cases in the Gartner Critical Capabilities for IT Vendor Risk Management Tools Report 2020. Venminder's platform helps users collaborate on all things vendor-related and guides through critical processes such as oversight management, contract management, risk assessments, due diligence requirements, questionnaires, SLA management, vendor onboarding and more. Robust and configurable reporting can be generated from the tool to give clear visibility into the management and ongoing monitoring of third parties. Completed vendor risk assessments can be found in the Venminder Exchange and include thorough assessments of a vendor's information security, SOC reports, contracts, financials, business continuity/disaster recovery and more. Venminder also powers Third Party ThinkTank, an online free community dedicated to third-party risk professionals. For more information, visit http://www.venminder.com.
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