FTV Capital backs RegTech, cybersecurity business A-LIGN

Growth equity house FTV Capital has backed cybersecurity and regulatory compliance provider A-LIGN with a $54.5m investment.

The company provides assessments, audits and cyber risk advisory and testing services for companies ranging from small-medium sized businesses to large enterprises.

FTV said IT audit and risk assessment services was a rapidly expanding, multi-billion dollar market driven by substantial tailwinds, including the growing rate of cyberattacks, an increasing amount of data and business process outsourcing, as well as third party vendor and risk management.

A-LIGN chief exec Scott Price said, “Evolving security frameworks and the continual release of new regulations and compliance requirements, such as GDPR, SOC I/II/III, and the recently-passed California Consumer Privacy Act, require that company executives constantly examine their data privacy practices.

“Organisations across all industries are conducting critical assessment and audits not only for mandated compliance, but also to deepen trust among customers and users which has a direct impact on the bottom line.”

The company’s compliance services include SOC I/II/III, PCI DSS, HIPAA, ISO 27001, Hitrust, Fisma, ISO 9001, and SOC for cybersecurity, among others.

FTV partner Liron Gitig added, “The need for rigorous cybersecurity and compliance solutions continues to top the list of must-haves for the financial institutions in FTV’s Global Partner Network.

“Scott and the team at A-LIGN are industry leaders in information security and have developed innovative best practices to ensure customers meet the most stringent privacy and compliance mandates.

“The A-LIGN approach emphasizes the highest standard in work product, customer service and engagement, as well as efficient and cost-effective delivery, which is evidenced by the company’s rapid growth and impressive customer retention rates. FTV is eager to collaborate with A-LIGN through its next phase of growth.”

FTV currently has more than $2.7bn to invest, and targets high-growth companies in the enterprise technology and services, financial services and payments & transaction processing sectors. The firm took just three months to hit a hard cap final close for its most recent fund two years ago, pulling in $850m for the vehicle. The firm raised $700m for its predecessor vehicle two years earlier, well above that fund’s initial $500m target.

Copyright © 2018 RegTech Analyst

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