Resolver Inc., a software company offering products in the risk, security and compliance markets, has raised additional $20 million in funding from its principal investors including Klass Capital.
Additional funding brings the total investment from existing investors, primarily Klass Capital, to $40 million. The added capital will be used for acquisitions to expand product capability in the information security market.
“Resolver has demonstrated consistent recurring revenue growth of 30% over the past two years, and are adding over 100 new enterprise customers each year,” said Daniel Klass, Resolver’s Chairman. “As this organic growth is on path to be funded from the operation’s cash flow, we feel confident in pursuing an acquisition strategy to accelerate Resolver’s growth. Resolver is poised to become a $50M revenue business in the coming year.”
Resolver has long established product offerings for the ERM/ORM, compliance and internal audit markets, as well as for corporate security including incident management, investigations and command center operations. Over the past two years Resolver has been building it’s next generation platform, and released this offering to customers in early 2017.
“Our mission statement is to protect what matters,” said Resolver CEO, Will Anderson. “Our integrated risk management framework has significant capabilities that meets the needs of our customers in our existing markets. However, to fully be a partner to our customers in addressing their risk and security requirements we need a complete offering that includes information security. These markets will be our target in the coming quarter.”
The acquisition of certain Wynyard assets in the ERM market provided Resolver with increased capability in servicing and supporting a global customer base. Resolver now has operational offices in Christchurch NZ, and expanded operations in London UK, and Dubai UAE; supporting Resolver’s full suite of product offerings. In the coming quarter, Resolver will offer 24/7 follow the sun support for all customers.
“We’ve had tremendous growth these past two years since integrating our first two acquired businesses,” added Anderson. “We feel confident that now is the time to accelerate our growth through acquisition. We are most proud of the employee culture we’ve developed over the past 24 months. As a fully integrated business we are in a great spot to incorporate new acquisitions. Being a recent recipient of Canada’s Top 50 Great Places to Work™ award is an important validation of this fact.”
photo credit: Resolver