Monday , 16 July 2018
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MetricStream brings on $60M to keep more companies in compliance

MetricStream brings on $60M to keep more companies in compliance

MetricStream, a company that sells software to help companies ensure its employees remain compliant with all applicable regulations, has added $60 million in funding to its coffers.

The new money, which MetricStream announced today in a statement, should come in handy when it comes to competing with IBM, EMC, SAP, and other vendors in the governance, risk, and compliance business.

Meanwhile, even cloud providers have expressed interest in bolstering their compliance capabilities. For instance, Virtustream earlier this year bought Viewtrust Technology.

MetricStream emphasizes its long list of features as a point of distinction. It can handle audit management, document management, issue management, risk management, and even social media risk management.

Sageview Capital led the new round. Goldman Sachs and Kaiser Permanente Ventures also participated. Last year in a regulatory filing, MetricStream disclosed that it had raised $48 million as part of a $70 million round. And in 2009 it raised $2.5 million.

MetricStream started in 1999 and is based in Palo Alto, Calif. Customers include Kellogg’s, NetApp, SanDisk, Societe Generale, and Woolworths.

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