$3.6 million in funding heats up Coalfire

LOUISVILLE – Software company Coalfire Systems Inc. received $3.6 million in new venture capital financing from Baird Capital in Chicago.

The money will be used to fund new business initiatives, the company said in a press statement. While no specific initiatives were given, audit, risk assessment and compliance management software used by companies in the health-care industry and others are driving Coalfire’s growth, Jim Pavlik, a partner at Baird Capital’s venture group and a member of Coalfire’s board of directors, said in the press statement.

“IT GRC (risk assessment and compliance management software) has become a top priority for just about every enterprise,” Pavlik said, “and savvy leaders want the peace of mind that comes from a fully independent auditor like Coalfire.”

Baird Capital previously invested $5 million in Coalfire in February 2011. Baird is the direct private investment arm of Robert W. Baird & Co. Inc. headquartered in Milwaukee, Wisconsin.

In 2012, Coalfire grew from 94 employees to nearly 130 in seven offices in the United States and increased revenue by more than 35 percent, according to the press statement. In addition to Louisville, Coalfire’s offices are in Dallas, Denver, Los Angeles, New York, San Francisco, Seattle and Washington, D.C. Coalfire also completed its first acquisition of another company in 2012 for an undisclosed sum – Digital Resources Group, a computer data-security firm in Redwood City, California.


Comments

Advertising
Advertising
Advertising

Assessed Valuations

FacebookTwitterLinkedInE-mail Here’s a question we hear from customers quite often: When will rates go up and what happens when they

Custom Publications

Awards

  • Awards – 02/28/2014

    FacebookTwitterLinkedInE-mail Boulder-based Clean Energy Collective received the Most Innovative Solar Company award from Solar Power Generation USA. Clean Energy develops

  • Awards – 02/14/2014

    FacebookTwitterLinkedInE-mail Lafayette-based The Creative Alliance won an American Package Design Award from GD USA Magazine for packaging designed for its

  • Awards – 01/31/2014

    FacebookTwitterLinkedInE-mail Two University of Colorado-Boulder researchers were among 15 honored week by the National Academy of Sciences for extraordinary scientific

RSS

RSS

RSS

RSS

RSS

Advertising

Social Network

 
Facebook Icon
Twitter Icon
LinkedIn Icon