Compliance Risk, a governance-as-a-service solution designed for managed service providers (MSPs), confirmed today that they have secured a $3.5 million investment from Bellini Capital.
Alongside the investment, the company will undergo a rebranding and emerge as Compliance Scorecard.
Bellini Capital is well-known in the MSP market for being spearheaded by Arnie Bellini, the founder and previous CEO of ConnectWise.
Vertical markets such as healthcare, finance, and even automotive dealerships have found that they now have compliance needs, and this represents an opportunity for MSPs. Companies such as Compliance Scorecard aim to make offering and selling compliance and governance-as-a-service easier for MSPs.
Addressing the Increasing Need for Compliance
In today's technological landscape, compliance stands out as a mounting concern for both MSPs and the clientele they serve.
The decision to transition to the name Compliance Scorecard is indicative of the firm's commitment to streamlining the intricacies of compliance, according to the company. The rebranding emphasizes the company's capability to facilitate and simplify the compliance processes, making it more accessible for MSPs to integrate the vital service into their existing suite of offerings to clients. The initiative also caters to MSPs’ internal governance requirements.
With its suite of services, Compliance Scorecard provides MSPs with customized policies and procedures designed to align with particular regulatory and industry compliance benchmarks. The funds acquired from Bellini Capital's investment will be channeled towards broadening the company's product portfolio, paving the way for the introduction of novel risk-management and governance modules, according to Compliance Scorecard.
Founder's Insight Into Compliance Complexity
Tim Golden, the Founder and CEO of Compliance Risk and a veteran in the field with over two decades of experience as a chief technology officer and MSP, has an intimate understanding of the complexities surrounding compliance.
His firsthand experiences underscore the rationale behind incorporating functionalities in the company’s services that empower MSPs to deploy compliance solutions seamlessly.
Compliance Scorecard’s New Investment: Comments from Leadership
Tim Golden, CEO, Compliance Risk, commented:
"Everyone feels pressure from increased regulation, cyber insurance requirements, and the constant threat of a data breach. Ultimately, the Governance as a Service we provide enables MSPs to help their clients and protect themselves.”
Arnie Bellini, Managing Partner, Bellini Capital, said:
“MSPs need to get busy offering security operations services to their customers. Their customers are getting hacked, and it is time for MSPs to evolve. With Compliance Risk, MSPs can offer a basic set of security operations services. That puts MSPs on the path toward doubling their revenue.”
Compliance Scorecard's Key Features
The Governance-as-a-Service model presented by Compliance Scorecard encompasses:
- Specialized policy packs catered to sectors, inclusive of HIPAA, FTC Safeguard, NIST CSF, and CMMC.
- An expansive document repository grounded on years of experience in aiding enterprises to navigate government and industry regulations.
- Descriptive texts guiding users through each policy documentation process.
- Features for change-control tracking and automated reminders to ensure annual compliance requisites are met.
- Provisions for end-user training, adoption monitoring, and e-signatures.
- Weekly MSP support groups, a dedicated Slack channel, and a 30-day complimentary trial.
