LockPath, an Overland Park, Kanas-based provider of governance, risk and compliance (GRC) solutions, today announced that it has closed a $6 million series B financing round led by El Dorado Ventures.
The company says its “Keylight platform” helps organizations of all sizes address regulatory compliance and risk management needs.
“Since our last investment in LockPath, the company has taken its position as an emerging GRC player to the next level and proven its strategic value as a GRC visionary,” said Jeff Hinck, General Partner, El Dorado Ventures. “Like many of our portfolio companies, LockPath is a key market disruptor, and its impressive growth in the last year demonstrates that the company is primed to dominate in 2012 and beyond.”
LockPath says it will put the new cash to work to expand and ehance its GRC platform with improved scalability and usability, grow the company head count, and expand its channel program.
“LockPath has seen tremendous growth and expansion through the collaboration with our investors, customers and partners to develop uncomplicated and powerful GRC solutions that keep pace with evolving risk and regulatory compliance demands,” said Chris Caldwell, CEO, LockPath. “This latest round is a testament to what we have accomplished since our founding, and we plan to use it to continue to revolutionize the GRC space and grow our team.”
Other investors participating in the round include Vesbridge Partners and the Webb Investment Network (WIN).