“Our focus on consistent and responsible growth has fueled our financial strength and ability to deliver ROI for customers” – Chris Pantaenius, Co-Founder, Onspring
“Our plans to dramatically accelerate Onspring’s growth are now in place, creating opportunities for us to take bigger bets on product development to revolutionize the GRC market”
– Chad Kreimendahl, Co-Founder, Onspring
“Onspring’s history of consistent profitable growth and efficient unit economics in an attractive and growing market was a compelling investment thesis and drove our decision to partner with Chris, Chad, and team” – Riyad Shahjahan, Managing Partner, Capital IP
Transaction Overview
- On May 9th, 2023, Onspring, the automated SaaS GRC software platform that delivers no-code connection across an enterprise, announced it has raised strategic capital from Capital IP Investment Partners, an investment firm focused on technology & tech-enabled businesses
- Onspring is a founder-owned and led company that originated in 2013 (founded by Chris Pantaenius and Chad Kreimendahl) and has consistently outperformed the SaaS Rule of 40
- The company is a no-code, cloud-based GRC software platform that automates critical risk and compliance activities, including mapping policies to controls, findings, regulations, and governance frameworks, triggering workflows for remediation activities and visualizing real-time data for accurate reporting and faster decision-making
- Onspring maintained consistent revenue growth and world-class customer retention since its inception and recently expanded into the federal market with its FedRAMP In Process designation
- The company ranks as the #1 GRC software in the InfoTech Research Group quadrant, maintains 5-star customer reviews on G2 Crowd and Capterra, and is consistently recognized as one of the Best Places to Work in Kansas City
- Three new products released in the past year – POA&Ms, ESG, and Regulatory Change Management – deliver solutions that serve market demand and provide necessary connective tissue to manage comprehensive governance, risk, and compliance programs
Transaction Significance
- An increasing regulatory climate is putting more pressure on companies to focus on compliance, risk, and resiliency. Thus, driving a strong and continued interest in the "GRC" category by both investors & strategic acquirors
- Companies require a powerful, automated system that can help eliminate manual and repetitive tasks. As organizations move to consolidate technology and shift preference to self-administering cloud-based software, Onspring is positioned for a tremendous growth trajectory
- The new capital will drive continued investment in platform improvements around AI, integrations, and user experience, in addition to new product development that will accelerate market share growth in the GRC category
Momentum Cyber's Role
- Momentum Cyber served as exclusive financial & strategic advisor to Onspring
- This transaction demonstrates Momentum Cyber's deep domain expertise in cybersecurity M&A and GRC software markets, along with its proven track record advising leading technology companies on strategic capital raises and growth financings
If you’re navigating a critical inflection point in cybersecurity growth, M&A, or capital strategy, Momentum Cyber brings unmatched sector expertise and senior-level advisory to every engagement. Let us advise you today and help you maximize value with confidence in an increasingly complex cyber landscape.