Company Raises $10 Million to Fuel Bold Vision in Challenging New Era for Corporate Compliance
DENVER, Colo. – January 29, 2013 –Convercent, the first integrated, cloud-based culture and compliance software to help companies promote the good and manage the bad, launched today. The company also announced $10.2 million in funding, led by Azure Capital Partners and Mantucket Capital. City National Bank also participated.
Convercent helps companies systematically align corporate values with individual behavior to create thriving, productive and compliant cultures of engaged, high-performing employees. To do so, Convercent has created the first solution to integrate values, governance and compliance activities into one easy-to-use cloud application. Convercent also keeps you plugged in wherever you go with industry-first mobile access and translation into more than 40 languages.
"We are bringing the promise of today's best technology to an area of business in dire need of innovation," said Patrick Quinlan, CEO of Convercent. "Convercent is the first software to aggregate corporate ethics, values and compliance management into a single solution. We empower companies to be proactive in their approach to communicating their values to employees, mitigating risks, saving costs and creating thriving environments."
"The opportunity for Convercent to breathe new life into a somewhat broken and traditional software category is tremendous," said Cameron Lester, a founding General Partner of Azure Capital Partners. "We are excited to invest in Convercent's vision and innovation focused on bringing culture and governance together, and empower a new generation of compliant and productive businesses."
Convercent's platform provides customers with the most intelligent software on the market, empowering legal, audit, and compliance executives to:
· Link company values, ethics and compliance behaviors – and move beyond basic compliance – to create a dynamic, connected culture.
· Disseminate and align company internal policies, federal regulations, employee education and company performance.
· Manage a modern, multi-channel approach to incident reporting that ensures rapid responses, escalations, investigations and resolutions.
· Expose gaps between employee engagement and compliance with a 360-degree view, in order to make adjustments and resolve problems before they arise.
"Convercent does it all – from helping us manage the big picture to giving full control in running consistent and effective specific investigations across our organization," said Mike Benetti, Chief Compliance Officer at Methode Electronics, Inc., a publicly traded global manufacturing firm. "We now have the intelligence and ability within a single application to not only engage our workforce around our values and important policies, but coordinate activities, track evidence, securely communicate with others, and view audit trails – the complete continuum of a successful compliance program."
To put Convercent to work immediately and bring your company's values, employee behaviors and compliance efforts together for better governance and performance, please visit www.convercent.com.
Convercent brings culture and compliance together in the first integrated cloud application so that companies can promote the good and manage the bad in an intelligent and productive way. Hundreds of companies rely on Convercent tosystematically align corporate values with individual behavior to create thriving, productive and compliant cultures of engaged, high-performing employees. Based in Denver, Convercent funding is led by Azure Capital Partners and Mantucket Capital.
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