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Funding / Investing / Software

Edison Partners leads $9M Series A for Brooklyn-based compliance firm

Philly firm MissionOG also participated.

At Edison Partners in Princeton. (Photo via Facebook)

Companies like Petrobras and Rolls Royce took major hits last year, both in stock price and reputation, thanks to corruption and bribery scandals. The shared desire to end incidents like these through corporate accountability is what led MissionOG to join a $9 million Series A round raised by compliance management software vendors GAN Integrity.

MissionOG Managing Partner Andy Newcomb explained the Center City firm’s decision to back the Brooklyn-based company in a blog post released Friday.

“Ill-formed and poorly executed policies, combined with a lack of control, education and accountability, weaken companies,” Newcomb said. “The headlines that result from these errors can destroy brands and balance sheets, obliterating shareholder value.”

The funding round was led by Princeton N.J.-based Edison Partners, with capital from MissionOG, NorthCap, Chicago Ventures and Cultivation Capital.

Newcomb declined to disclose the exact amount of MissionOG’s participation in the round, but told Technical.ly the firm was “excited to invest in an experienced team in a market that needs this solution and is ripe for disruption.”

Among MissionOG’s portfolio are a few Philly-based software companies: PeopleLinx, Cloudmine and Cloudamize.

“The confidence shown by our investors in GAN’s vision and platform is extremely gratifying and speaks to the growing demand for our product,” said Thomas Sehested, CEO and cofounder of GAN. “This funding positions us to significantly increase our growth, accelerate our customer deployments and expand the capabilities of our platform.”

Here is Sehested talking about the company’s offering:

Companies: Edison Partners / MissionOG

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