Vista Equity Partners is putting funds into RiskExec, a fair-lending compliance firm, that will allow the latter to operate independently from current parent company Asurity Technologies.
The companies declined to disclose the exact terms of the investment, which Vista made in line with its strategy to fund enterprise tech firms that have between $10 million and $40 million in annual recurring revenue.
RiskExec, which was
"Temerity's continued investment and engagement with RiskExec reflects not only our belief in its leadership, technology and value delivered to customers, but also our confidence in its future growth," Sandler said in a press release.
Asurity also will continue to provide advisory and training services to RiskExec's customers, according to Sandler.
Luke Wimer will remain RiskExec's CEO and continue to lead it with Anurag Agarwal, the company's president, who is responsible for its technology strategy.
Vista invests in enterprise software, data and technology-related organizations using private equity, permanent capital and credit strategies.
RiskExec supports around one-third of the top 50 banking and mortgage companies domestically, in addition to credit unions, small-to-mid-sized financial institutions, fintechs and other nonbank lending providers.
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