VCs to take a look at SAAS compliance vendors?

You've no doubt heard a lot about software as a service over the past few years. It's one of the perennial "trends" that people are always rediscovering. But the number of compliance-oriented vendors embracing SAAS has been impressive. But how viable is the business? Kyriba, a SAAS cash and treasury management provider, just announced it raised $7 million from VC firm Coface and current investors GRP Partners and Banque Populaire. This is a modest deal to be sure, but you have to wonder if other VCs are looking for investment in this arena. It may be a growth business, but I'm not so sure we'll see such investment in more Sarbox-specific companies. So has the entrepreneurial wave has crested already when it comes to the compliance industry? 

For more:
- here's an article from PEhub
- here's an article from the North County Times