Long Ridge Equity Partners has purchased ProcessUnity, a software-as-a-service provider for integrated risk management.
Founded in 2003, ProcessUnity offers highly configurable, easily deployed cloud-based tools to address a variety of applications including Third-Party Risk Management, Policy & Procedure Management and Operational Risk Management.
Financial services firms and commercial enterprises adopt ProcessUnity’s Vendor Cloud solution to automate the onboarding, due diligence and assessment processes associated with Third-Party Risk Management – shifting away from manual spreadsheets or legacy systems.
The company claims to mitigate brand and reputational risk by providing a holistic view of an organisation’s vendor population, including visibility into vendor security practices, policies and performance.
“We are excited to announce our partnership with Long Ridge, given their prior expertise in the broader compliance technology space and their impressive track record with high-growth companies,” said Todd Stone, CEO and co-founder of ProcessUnity. “Long Ridge’s investment will allow us to continue to enhance our global leadership position in Third-Party Risk Management while building out new technologies and services to better serve our rapidly expanding customer base.”
Headquartered in Boston, Massachusetts, ProcessUnity enables organisations to capture and maintain critical information for all of their third parties, including contract information and terms, fee structures, performance information, vendor policies, insurance and liability coverage, financial condition information, data loss provisions and supporting documentation.
ProcessUnity’s suite of cloud-based solutions also solves organisations’ ‘most pressing’ governance, risk and compliance management challenges. These include solutions for enterprise risk management, third-party / vendor risk management, policy & procedure, incident management and certification management, among others.
Its Regulatory Compliance Management is a cloud-based application that automates the full range of activities involved in ensuring compliance, while its Audit and Regulatory Request Management solution simplifies the process of responding to information requests.
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