Paisley Consulting Secures $10 Million and Establishes Dominance in the Risk Management and Compliance Software Market.Business Editors/High-Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--May 26, 2004 Insight Partners Provide Series A Financing to Enable Paisley Paisley (pāz`lē), town (1991 pop. 84,330), Renfrewshire, W Scotland, on the White Cart Water, a stream. It has a thriving textile industry and is an extremely large producer of thread. to Capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. Demand for Sarbanes-Oxley Software Business accountability software leader Paisley Consulting today announced it has secured a $10 million round of Series A equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. from Insight Venture Partners, a leading New York-based venture capital firm specializing in software companies. This marks the first institutional round of funding for Paisley, a company widely respected for its audit management software since its inception in 1995. Paisley will use the funding to accelerate product development for Sarbanes-Oxley and other risk management solutions and to expand its national and international market development programs. Paisley has experienced rapid growth over nine years of business with it's risk management and compliance solutions, Risk Navigator See Netscape Navigator, Netscape and Norton Navigator. Navigator - Netscape Navigator (TM) for large-scale enterprises and Focus(TM) for the small-to-medium enterprise market. Paisley's Risk Navigator and Focus helps reduce the time and resource costs associated with ongoing compliance for Sections 302 and 404. The positive market response to its risk and compliance products has earned Paisley a place on Inc. Magazine's list of 500 fastest-growing private U.S. companies for the past two years in a row. Paisley has emerged as a clear market leader with more customers using their solutions for Sarbanes-Oxley compliance than any other competitor. Paisley's customer roster includes over 500 companies and 30 percent of Fortune(R) 100 companies including big accounting firms, global investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. providers, automotive manufacturers, leading investment management companies, global defense companies and international humanitarian organizations. "Paisley has posted 900 percent growth over the last five years, and we expect our growth to accelerate as companies continue to invest heavily in their corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. initiatives," said Tim Welu, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Paisley Consulting. "This funding will be instrumental in supporting our aggressive expansion plans as we help a growing number of companies address their short and long-term compliance and risk management challenges." "Paisley differentiates itself from its competitors by offering a solution that maintains a holistic Holistic A practice of medicine that focuses on the whole patient, and addresses the social, emotional, and spiritual needs of a patient as well as their physical treatment. Mentioned in: Aromatherapy, Stress Reduction, Traditional Chinese Medicine view of corporate risks and assurance issues for companies" said Jeff Lieberman, Principal, Insight Venture Partners. "With its comprehensive approach to enterprise risk management, Paisley is uniquely qualified to not only help businesses achieve their short-term Sarbanes-Oxley requirements, but also to achieve long-term ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). from their compliance initiatives. Paisley has an unmatched customer roster that is a testimony to the strength of both its management team and its technology." About Paisley Consulting Paisley Consulting is a business accountability software provider focused on integrated solutions for corporate assurance, internal auditing, risk management and compliance. The company's key products include Risk Navigator(TM), Focus Control Assurance Software(TM), AutoAudit(R) for Windows(R) and AutoAudit(R) for Notes(R). With global customers in diverse markets, Paisley Consulting works with 30 percent of the Fortune(R) 100. Founded in 1995, the company has been included on Inc. Magazine's list of 500 fastest-growing private U.S. companies. For more information visit www.paisleyconsulting.com. |
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