April 24, 2018 | Austin, Texas: 360factors Inc., a leading cloud-based Enterprise Risk and Compliance Management platform based on artificial intelligence has raised $2M in Series A funding from Sattar Ventures to further support sales growth, market expansion and product innovation. Sattar Ventures is known for investing in some of the most innovative tech companies in the Austin technology industry, with a focus on those using artificial intelligence and cognitive computing technology to automate labor-intensive processes such as e-learning and compliance. Sattar Ventures is headed by Ed Sattar, a veteran entrepreneur and Austin based tech investor who recently led the successful exit of 360training.
360factors has achieved some very important milestones and is on track to become an industry leader in the risk and compliance space. It is a pioneer and was the first to market with an artificial intelligence-based solution to automate many of the functions in risk and compliance. In addition, 360factors just launched the industry’s first compliance management system offering a free 30-day trial, no upfront costs, and month-to-month payment terms. 360factors designed this solution specially for small to mid-sized banks and financial institutions to provide them an affordable solution with a quick self-service intuitive implementation. 360factors is the American Bankers Association (ABA) endorsed solution for compliance management.
360factors’ CEO Carl L. McCauley is excited to see the continued investments from investors who recognize the vast potential of 360factors. “When companies see what our products can actually do to increase their efficiency and effectiveness in managing compliance and risk, they are amazed. Our solutions help automate many of the inefficient and manual processes and tools used by mid-sized organizations, while offering a value that is unmatched in the industry,” stated Carl McCauley. “Just like Salesforce.com changed how companies evaluate and purchase CRM software, 360factors is leading the charge in how governance, risk and compliance (GRC) is purchased.”
Ed Sattar made it clear that he was impressed with what he saw in 360factors. “As a tech investor, I look at a lot of presentations about potential ideas. What attracted me about 360factors is their ability to automate highly complex regulatory change management to risk, audit and compliance activities using Artificial Intelligence and their ability to provide this platform via a self-service ecommerce model that will change the way companies evaluate, purchase and use GRC solutions. They have a strong leadership team in place with an extensive background in leading growth for other software companies, strong risk and compliance experience, and artificial intelligence technology expertise. Their solutions increase the efficiency and effectiveness of their customers’ operations while offering a return on investment that is unmatched by any of their competitors.”