June 4, 2013, Kennesaw, GA – Riskonnect, the independent leader in risk technology, today announced that it has raised $10 million in growth capital. The minority investment will enable Riskonnect to extend its market leadership by continuing to meet the demands of risk professionals adopting the Riskonnect suite of risk technology solutions, and grow its global services and delivery teams. The investment was made by Level Equity, a New York-based growth equity firm that invests in rapidly-growing software and Internet companies.
“This investment not only validates Riskonnect as the risk technology market leader, but validates the risk technology market as a whole,” said Bob Morrell, CEO and Co-Founder of Riskonnect, Inc. “We will continue to hire the most talented professionals from both the risk management and high tech sectors.”
“Riskonnect chose Level Equity because of their stellar reputation and the founder’s track record of success. Over the years, we have been offered numerous choices of equity investments and firms with whom to work. While this transaction is the first of its kind for Riskonnect, the Level Equity team has considerable experience investing in successful companies with our business model,” continued Morrell. “By waiting until this stage in our growth to take on equity capital, we have ensured our ability to maintain management control and afforded ourselves the ability to select the ideal strategic partner for our vision and growth.”
George McCulloch, Founder and Partner at Level Equity, will join Riskonnect’s Board of Directors. McCulloch said, “Riskonnect has built a strong and durable software company solving the increasingly sophisticated challenges of risk managers worldwide. Bob Morrell and his team were early to recognize the advantage of cloud-delivered software and have grown a strong and profitable business with a blue chip client base and long-term customer relationships. Our investment will accelerate Riskonnect’s development of its cloud-based software and expand its capacity for services delivery to meet the needs of global customers.”
With offices in Atlanta, Chicago and London, the most comprehensive software suite designed for risk managers, and client users in more than 80 countries worldwide, Riskonnect is the independent leader in risk technology.
“We owe much of our success to organizations who adopted our technology early and believe in our vision to improve the world of risk management,” continued Morrell. “Even though we have grown considerably, our core values have not changed. Our values center on a complete focus on our clients.”
About Riskonnect, Inc.
Riskonnect, Inc. is the provider of a premier, enterprise-class technology platform for the risk management industry. As an independent innovator in risk management software, Riskonnect develops and markets a growing suite of software solutions on a world-class cloud computing model, helping clients elevate their risk management programs, safety solutions and programs for management of risks across the enterprise. Through its strategic, operational and insurable risk software applications, Riskonnect provides the risk management industry with the specific, configurable solutions needed to reduce losses, control risk and affect shareholder value. For more information about Riskonnect, contact us at www.riskonnect.com, email to info@riskonnect.com or call 770-790-4700.
