Continuity Control fetches $10 mln
Continuity Control said Wednesday that it has received $10 million in funding. River Cities Capital Funds led the round with participation from BancVue and the family of IBM founder Thomas Watson. In addition to the funding, Rik Vandevenne of River Cities has been added to Continuity Control’s board. Based in New Haven, Conn., Continuity Control is a provider of a compliance management solutions for community financial institutions.
New Haven, CT – September 3, 2014 – Continuity Control™, a New Haven, Conn.-based provider of a compliance management system for community financial institutions, announced today that it has raised $10 million in growth funding to continue extending its industry-leading technology platform and regulatory intelligence.
The round, which resulted in double the $5 million funding Continuity Control was originally seeking, was led by River Cities Capital Funds, a growth equity firm investing in information technology and healthcare companies. Additional investments came from BancVue, a national provider of banking products, marketing solutions and consulting services for community financial institutions, and the family of IBM founder Thomas Watson. Rik Vandevenne, a director with River Cities, will join the Continuity Control board.
“We are very excited to welcome River Cities, BancVue and the Watson family to our team of investors. The interest generated in this round of investment further validates our vision for compliance management and the opportunity it represents in the community financial industry,” said Andy Greenawalt, co-founder and CEO of Continuity Control. “This funding will allow us to accelerate functionality enhancements to our industry-leading platform, so we can continue to reinvent the way compliance management is handled.”