Compliance and risk mitigation company Regulatory DataCorp has completed a second round of funding from Bain Capital Ventures, a private investment firm.
Compliance and risk mitigation company Regulatory DataCorp has completed a second round of funding from Bain Capital Ventures, a private investment firm.
Terms of the investment were not disclosed.
RDC will use the funds to improve and expand availability of its compliance and risk mitigation products and services, including its popular Grid database.
Information in Grid is used by financial service companies and others to ensure compliance with the USA Patriot Act, anti-money laundering laws and other regulations, and to mitigate financial and reputation risk.
The second round of funding for RDC follows the first tranche, also from Bain Capital, which was made in July 2007.
‘As this second investment suggests, Bain Capital Ventures remains confident in RDC’s technology and leadership,’ says Bain Capital Ventures managing director Jeffrey Schwartz (pictured). ‘Demand for superior risk mitigation data is large and growing. With Grid, RDC offers the best-in-class, most comprehensive risk-relevant database in the world. We are excited to be part of this success story and we are eager to collaborate with RDC to expand their operations in markets around the world.’
Mark A. Parsells, RDC chairman and chief executive officer, says: ‘Our relationship with Bain Capital is about much more than funding. Bain brings extraordinary talent and experience to the table. They are a critical partner in helping RDC realise its vision of becoming the global leader in risk mitigation and regulatory compliance. We look forward to working closely with Bain for many years to come.’
