Neohapsis Announces New Financing Round

CAMBRIDGE, Mass.--()--Neohapsis, a leading provider of governance, risk, and compliance (GRC) products and services, today announced that it has acquired the assets of Texert, Inc., enabling Neohapsis to significantly extend the risk management capability of its Governance, Risk, and Compliance platform, NeoGRC™. Neohapsis also announced the closing of a new $4.5 million financing round led by New Venture Partners, together with existing investors Trident Capital and Paladin Capital Group.

As a result of its recent investment, Daniel J. Deeney, partner and a founder of New Venture Partners (NVP), has joined Neohapsis’ Board of Directors. At NVP, Deeney evaluates new investment opportunities from corporate research labs and business units of corporate technology companies. “When making investments, we look for companies that have a proven track record of success and a unique market opportunity, Neohapsis certainly has both,” said Deeney. “The company has built its products and services to address a vision of GRC which will be extremely valuable to global enterprises wanting to improve their ability to effectively manage risk at all levels of an organization. The combination of the Neohapsis and Texert technologies is a powerful move and the upside for Neohapsis is significant.”

Neohapsis views GRC as the most compelling business process for mitigating risk and increasing value for stakeholders. With a proven team, proven products, and a proven approach, Neohapsis is a trusted name in GRC and security. With its combination of security consulting and GRC products, Neohapsis is uniquely positioned to address today’s evolving risk management challenges.

“We’ve decided to partner with NVP because we share the mission of promoting improved risk management to enterprises across a variety of sectors,” said James Mobley, President and CEO of Neohapsis. “The joining of the technologies from Neohapsis and NVP’s portfolio company, Texert, will be extremely powerful, especially in combination with Neohapsis legacy of expert security and risk consulting services. Neohapsis has earned the trust of many of the world's largest and most demanding enterprises, and this move greatly extends the value that we can offer them.”

About Neohapsis

Neohapsis provides governance, risk, and compliance (GRC) products and services to address the risk management, regulatory, and information protection needs of global enterprises and government agencies. Through its advanced GRC products and proven consulting services, Neohapsis delivers trusted infrastructures and fully integrated GRC products. Neohapsis solutions provide unprecedented visibility into the complex interrelationships between business objectives, people, information, risks, controls, and the state of compliance. Neohapsis leverages the power of the security and GRC relationship to enable sustainable governance frameworks that improve operational integrity and business performance.

Neohapsis is privately held with headquarters in Cambridge, Massachusetts. Additional information about Neohapsis can be found on the Web at www.neohapsis.com.

About Texert

Texert is a leading provider of Governance, Risk, and Compliance (GRC) software solutions for corporate enterprise customers in the global marketplace. Texert customers utilize Texert products and solutions to define, assess, manage, and monitor risk and compliance throughout the corporate enterprise.

J-Port® GRC Product Suite provides a flexible GRC platform that supports policy and procedure management, operational loss events, risk and control management, as well as the ability to analyze and visualize the state of risk and compliance in your corporate enterprise. Utilizing Texert's product suite, customers have the choice to address: Enterprise Risk Management (ERM), Compliance Management, and Integrated Risk and Compliance Management across the enterprise.

Texert’s venture capital partner is New Venture Partners.

Contacts

Neohapsis
Kristine Briggs, 773-269-6309
kbriggs@neohapsis.com

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Contacts

Neohapsis
Kristine Briggs, 773-269-6309
kbriggs@neohapsis.com