"Our goal is to help Fastpath accelerate its sales and marketing initiatives, while also broadening the company’s product offering, extending customer relationships across a wider set of ERP applications and GRC functionality." Raj Parikh, Pamlico Vice President
DES MOINES, Iowa (PRWEB) September 10, 2020
Pamlico Capital (“Pamlico”) announced that it has completed a growth investment in Fastpath Solutions, LLC (“Fastpath” or the “Company”), a leading provider of governance, risk, and compliance (GRC) software solutions. Founder and CEO Andy Snook, along with other management team members, will maintain a significant ownership stake in Fastpath. Further transaction details were not disclosed.
This investment comes while Fastpath is achieving record growth, benefitting from increasing demand for cloud-based software that automates compliance activities. The Company’s flagship product, Assure, is a cloud-based platform enabling corporate compliance, finance, and IT departments to monitor and audit user access. The SaaS (Software as a Service) platform offers real-time, cross-platform visibility across major Enterprise Resource Planning (ERP) software applications. Founded in Des Moines, Iowa in 2004, Fastpath has expanded its GRC platform and now serves over 1,000 customers in more than 30 countries.
“Fastpath is well positioned for future growth, as automated solutions are replacing manual compliance activities, and our existing customer relationships expand as clients seek additional GRC capabilities,” said Andy Snook, Founder and CEO. “Our team is proud of our success to date and is thrilled to bring in Pamlico as our first institutional equity partner. We look forward to their help with scaling our team and expanding our go-to-market initiatives.”
“We are incredibly excited to partner with Andy and Fastpath management,” said Eric Wilkins, Pamlico Partner. “We were impressed by their unique culture. Their team has a real passion for helping clients solve their toughest compliance and security challenges, as evidenced by the company’s fantastic customer satisfaction ratings.” Raj Parikh, Pamlico Vice President, added, “Our goal is to help Fastpath accelerate its sales and marketing initiatives, while also broadening the company’s product offering, extending customer relationships across a wider set of ERP applications and GRC functionality.”
Fastpath was advised by Dickinson, Mackaman, Tyler & Hagen, P.C (legal advisor). Pamlico Capital was advised by Alston & Bird LLP (legal advisor).
Founded in 2004 in Des Moines, Iowa, Fastpath provides an award-winning security access, monitoring and compliance platform. Fastpath’s core product offering, Assure, is a SaaS software suite of tools that can integrate with multiple ERP systems, enabling corporate finance and risk managers to automatically monitor IT systems for security and compliance events. The Company supports over 1,000 customers around the world. For more information, visit visit http://www.gofastpath.com.
Pamlico Capital is a private equity firm founded in 1988 that invests in lower middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity investments alongside proven management teams in its target industries: business & technology services, communications, and healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $3 billion. For more information, visit http://www.pamlicocapital.com.