Ncontracts, a Brentwood, TN-based provider of integrated compliance, risk, and vendor management solutions to the financial services industry, acquired Venminder, an Elizabethtown, KY-based provider of a platform for managing third-party risk.
The amount of the deal was not disclosed. Simultaneously with this transaction, Hg has bought out prior Ncontracts shareholder Gryphon Investors, as well as prior Venminder shareholders. Hg is an investor in software and services businesses and is backing Founder and CEO, Michael Berman, to lead the combined business.
This transaction will grow Ncontracts’ customer base further to over 5,000 customers. The investment and acquisition demonstrate Ncontracts’ commitment to continued growth from both an organic and inorganic perspective.
Led by James Hyde, Venminder is a provider of a SaaS platform for third-party risk management that is used by more than 1,200 customers to manage the entire vendor lifecycle, from onboarding to offboarding, with ease and efficiency. The company combines technology and human expertise to enable customers to manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and much more.
Venminder also empowers Third Party ThinkTank, ab online community dedicated to the practice of third-party risk.
Led by Founder and CEO Michael Berman, Ncontracts provides integrated risk, vendor and compliance management software to a rapidly expanding customer base of over 4,000 financial institutions, mortgage companies, and fintech companies in the United States. Its combination of software and services enables financial institutions to achieve their risk management and compliance goals with a solution suite encompassing vendor, organizational, audit, and compliance risk management.
FinSMEs
09/09/2024