“Venture Funding Arrives On Time for Concord Firm” – Worcester Business Journal

1 minute read

April 2013

The Worcester Business Journal covered ProcessUnity’s recent funding announcement:

For the first time in its 10-year history, ProcessUnity, a Concord-based risk and service delivery management software firm, has the cash to grow rapidly, and CEO Todd Stone said the money comes at a crucial time in the industry.  With a recently-acquired Series C round of venture funding — $5 million, led by Rose Park Advisors of Boston — ProcessUnity will expand its reach in existing financial services segments, as well as enter the health care industry and grow its international business, Stone said.  Securing the $5 million “tremendously exciting,” Stone said. It’s the largest round of venture funding since the private company, which has offices in historic West Concord, was founded in 2003. ProcessUnity raised $4.5 million in two prior rounds of funding from private individuals, but Rose Park is the company’s first institutional investor.  Stone said mounting pressures in the regulatory compliance realm spell increased risk for their business-to-business clients, which include names like Fidelity Investments and RBS Citizens, as well as smaller enterprises.

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ProcessUnity is a leading provider of cloud-based applications for risk and compliance management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. ProcessUnity’s flagship solution, ProcessUnity Vendor Risk Management, protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. Headquartered outside of Boston, Massachusetts, ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. For more information, visit www.processunity.com.