Regulatory compliance software maker Compliance11, Inc. said Monday that it has secured a Series B round of funding for $6 million that would help the company to further accelerate its rapid growth.
The funding round was led by Talon Capital Partners, LP in Chicago, Illinois and KVG Partners.
"It is the perfect storm: rampant fraud in the industry, aggressive regulators, new technology dramatically reducing costs and several new competitors," describes Tad Mitchell, President and COO of Compliance11. "Everyone is going to automate in the next two years. We are already the fastest growing company in this space. This funding helps us to move even more quickly."
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