# Convercent

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/convercent

- Industry: Software
- Headquarters: Denver, US
- Website: www.convercent.com
- Total disclosed funding: $66M
- Latest round: Series E (Dec 19, 2017)
- Investors on record: 6

## About

Based in the US, Convercent, Inc. operates as a provider of ethics and compliance solutions designed to enhance trust and governance within organizations, primarily targeting mid to large enterprises across various sectors.Convercent, Inc. specializes in ethics and compliance solutions that enhance corporate governance and foster a culture of trust within organizations. Founded in 2012 in Denver, US, the company has completed 10 deals as part of its business operations. In April 2021, Convercent was acquired by OneTrust LLC, with financial terms undisclosed. Patrick Quinlan is the current CEO, while Steve Foster is recognized as the founder of the company.Convercent, now part of EQS, specializes in providing comprehensive ethics and compliance solutions designed to foster a culture of trust within organizations. Their core offerings include a suite of software solutions that streamline compliance management, enhance corporate governance, and facilitate data privacy initiatives. These products enable businesses to monitor ethical practices, manage regulatory workflows, and engage stakeholders effectively. Targeted primarily at mid to large enterprises across various sectors, Convercent's client base spans industries such as finance, healthcare, manufacturing, and technology, with a global reach that includes markets in North America, Europe, and Asia-Pacific. By integrating sophisticated analytics and user-friendly interfaces, Convercent addresses complex compliance challenges, allowing organizations to operationalize their ethics and compliance programs efficiently.Convercent generates revenue through a subscription-based model that provides clients with access to its suite of compliance solutions. Clients typically engage with the company by purchasing annual licenses for its software, which include features tailored to their organizational needs. This transactional structure also allows for custom service agreements, where clients can opt for additional support or implementation services based on their specific requirements. The flagship products, designed to enhance compliance operations and data privacy management, are central to Convercent's value proposition and are positioned to meet the growing demand for ethical governance in business practices. The company's revenue is intricately tied to these subscription models and the ongoing relationships it cultivates with clients, ensuring sustained engagement and value delivery.Following the acquisition by OneTrust LLC in April 2021, Convercent is expected to leverage new resources to enhance its product offerings and client reach. The company is focused on developing new software solutions to address evolving compliance and governance needs, though specific release dates have not been disclosed. Additionally, Convercent aims to expand its market presence in Europe and Asia-Pacific by the end of 2023, utilizing funds from its latest funding round of USD 2.00 mn to support these initiatives.

## Funding rounds

- Series E, Dec 19, 2017, $25M — RHO, Sapphire Ventures, Tola Capital
- Series D, Feb 9, 2017, $10M — Sapphire Ventures, Tola Capital
- Series C, Jun 7, 2016, $11M — RHO, Azure Capital Partners, Sapphire Ventures, Tola Capital, Mantucket Capital
- Series B, Oct 24, 2013, $10M — RHO, Azure Capital Partners, Sapphire Ventures, Mantucket Capital
- Seed, Jan 29, 2013, $10M — City National Corporation, Azure Capital Partners, Mantucket Capital

## Investors

- City National Corporation — Seed
- Azure Capital Partners (https://capitalatlas.ai/funds/azure-capital-partners) — Seed, Series B, Series C
- Mantucket Capital (https://capitalatlas.ai/funds/mantucket-capital) — Seed, Series B, Series C
- RHO (https://capitalatlas.ai/funds/rho) — Series B, Series C, Series E
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series B, Series C, Series D, Series E
- Tola Capital (https://capitalatlas.ai/funds/tola-capital) — Series C, Series D, Series E