GRC SaaS company Exterro has secured an undisclosed amount of equity capital as part of a continuation vehicle transaction, taking its valuation to over $1bn.
The firm intends to utilise the funds to grow its GRC portfolio through mergers and acquisitions and product development. It will also develop new initiatives for law firms and service providers and drive the accelerated growth of its digital forensics products as it delivers new products to new geographically.
As part of the recapitalisation, Leeds Equity Partners, which invested in Exterro in 2018, has made a new equity commitment to the company from its fund Leeds Equity Partners VII.
“Since our last funding with Leeds Equity global demand for Exterro’s Legal GRC platform has grown exponentially fueling our product innovation as we’ve continued building e-discovery, data privacy, forensics, risk, and compliance technologies,” said Bobby Balachandran, founder and CEO of Exterro.
Other global institutional investors supporting the group include Coller Capital, Glendower Capital and GCM Grosvenor, Exterro said.
Jacques Galante, Partner at Leeds Equity Partners, added: “Bobby and the entire Exterro team have built a business to help enterprises manage and analyse data and drive actionable business intelligence. These are critical requirements to operating in the face of challenges across e-discovery, data privacy, cybersecurity and forensic investigations.”
