A-LIGN has announced a $54.5 million investment from FTV Capital.
The Florida-based company, which specialises in security and compliance solutions, has been active for a number of years but has not previously disclosed any investment.
The company provides assessments, audits and cyber risk advisory and testing services for SMEs and large enterprises, and also offers a proprietary platform called A-SCEND, designed to help streamline the audit and certification process via workflow automation, document management and auditing history.
“Evolving security frameworks and the continual release of new regulations and compliance requirements, such as GDPR, SOC I/II/III, and the recently-passed California Consumer Privacy Act, require that company executives constantly examine their data privacy practices,” said Scott Price, CEO of A-LIGN. “Organizations across all industries are conducting critical assessment and audits not only for mandated compliance, but also to deepen trust among customers and users which has a direct impact on the bottom line.”
A-LIGN intends to use the new investment to further invest in its existing products and capabilities, and to expand its team, which currently consists of 165 employees.
“The need for rigorous cybersecurity and compliance solutions continues to top the list of must-haves for the financial institutions in FTV’s Global Partner Network®. Scott and the team at A-LIGN are industry leaders in information security and have developed innovative best practices to ensure customers meet the most stringent privacy and compliance mandates,” explained Liron Gitig, FTV Capital partner. “The A-LIGN approach emphasizes the highest standard in work product, customer service and engagement, as well as efficient and cost-effective delivery, which is evidenced by the company’s rapid growth and impressive customer retention rates. FTV is eager to collaborate with A-LIGN through its next phase of growth.”
As part of the investment, Gitig and FTV Capital managing partner Richard Garman will both join A-LIGN’s board of directors.
“As a company, we have achieved significant growth milestones, and we are proud of the strong relationships we have built with our clients. We are excited to partner with FTV, a firm that has a long history in successfully scaling companies in the risk, security and compliance space, to reach that next summit in our expansion,” said Price.