JACKSONVILLE, Fla. and SAN FRANCISCO, Aug. 31, 2021 – Azimuth GRC, Inc., the Jacksonville-based regulatory compliance software platform, announced today that it has secured Series A financing. Mosaik Partners, a San Francisco-based venture capital firm focused on financial technology, led the round which included other new and existing investors. The new funds will be used to hire additional talent, further enhance the platform, and expand sales and marketing efforts. Azimuth GRC also announced additions to the executive management team, including Stephen Garrett as Chief Technology Officer and Kimberly Redd as Vice President, Product Management.
“Azimuth GRC’s technology helps financial institutions evaluate adherence to regulations and automate compliance testing, which has historically been a costly, lengthy and manual process,” said Rohin Tagra, Founder and CEO at Azimuth GRC. “Mosaik is the perfect partner for us as we embark on our next phase of growth, bringing significant operating and advisory expertise, in addition to a broad network of industry contacts. This new capital will enable us to accelerate growth by adding talent to support our rapidly growing customer base.”
Tagra has more than 20 years of experience in financial services as an executive with Bank of America, Black Knight Financial Services, and JPMorgan Chase. He most recently served as a Managing Director at JPMorgan Chase in the Mortgage and Oversight & Controls Divisions and was responsible for leading the company through its operational compliance regulatory efforts and settlements process following the financial crisis. Tagra founded Azimuth GRC in 2017 to address the industry-wide problem of automating regulatory compliance.
“We are excited to partner with Rohin as his experience and expertise could not be a better fit for this venture,” said Miles Kilburn, Co-Founder and Managing Partner at Mosaik. “Azimuth GRC is addressing a very real pain point for banks, mortgage providers and others across the financial services ecosystem. The opportunity here is enormous, particularly as the regulatory environment becomes more complex over time, with state and federal authorities applying different sets of rules across each jurisdiction.”
In conjunction with this round, John Katzenmeyer will join Azimuth GRC’s Board of Directors. Katzenmeyer, Partner at Mosaik Partners, brings nearly 25 years of financial technology advisory experience.
About Azimuth GRC
Azimuth GRC revolutionizes the world of regulatory compliance by being the first and only company to codify every state and federal law on one platform, changing the culture of compliance by taking manual compliance work done on paper spreadsheets and automating it. Azimuth GRC is the only company bold enough to bring you our exclusive VALIDATOR, a software that provides daily automated tests of your entire portfolio to determine if you are in compliance with all applicable laws and regulations.
About Mosaik Partners
Founded by industry operating executives in 2011, Mosaik Partners invests in early-stage B2B fintech companies attacking pain points in commerce and financial services. Mosaik actively leverages its operating experience to provide promising entrepreneurs with the resources and know-how they need to achieve success. The firm has made investments in the payments, software, capital markets technology, regulatory technology and AI / big data sectors. Based in San Francisco, the team collectively has more than 80 years of operating and investing experience in the financial technology sector.
CONTACT: Art Yeames, email@example.com