Lumigent continues to make gains

You would think the current environment would be hard for stand-alone GRC companies, which many see as ripe for a deal with bigger firms. Some seem determined to stay their own course.

Lumigent comes to mind. The Acton, Mass.-based company-known for its AppGRC suite of services-announced a its has closing a new, $3 million round of funding from North Bridge Venture Partners. It plans to use the funds to finance expansion in 2010. It added 15 new customers last year, meeting its goal, and formed key partnerships to push AppGRC to other platforms such as Deltek and PeopleSoft.

The firm also added to its executive ranks, hiring a new CFO and VP of sales. So behind CEO John Capobianco, the company appears to be moving in the right direction. Regarding the competition, Capobianco has said this in the past: "We don't just monitor the controls, we are the controls." An interesting marketing formulation. You have to wonder if any of the bigger companies have noticed. 

For more:
- here's a release

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