Strategic Risk Associates (SRA), a Richmond, Virginia-based provider of integrated risk and performance management SaaS technology (WatchtowerTM) for the financial services and insurance industries, announced that it closed $12 million in Series B funding.
The round was co-led by EJF Capital (“EJF”), through its affiliate, the EJF Silvergate Ventures fund, JAM FINTOP, and FINTOP Capital, with participation by longtime SRA customer Atlantic Union Bankshares Corporation, and other existing investors.
This investment allows SRA to continue this work at scale with the robust Watchtower™ SaaS platform and expand its integrated risk suite of offerings to support FinTech and digital asset risk management.
“Financial Institutions need a panoramic view of risks that provide the board and executive management better oversight of their business and addresses the increasing regulatory burden and economic realities of today’s banking environment,” said Michael Glotz, CEO and Co-Founder of Strategic Risk Associates. “SRA’s vision is to help our clients improve hindsight, insight, and foresight into their organization’s risks and opportunities through advanced data analytics and continuous monitoring.”
SRA works with hundreds of financial institutions across the US that are concerned with today’s regulatory environment and the risks associated with adding modern products, such as (crypto) digital assets, and keeping track of their 3rd party vendors.
Company: Strategic Risk Associates
Round: Series B
Funding Month: November 2022
Lead Investors: EJF Capital, JAM FINTOP, and FINTOP Capital
Additional Investors: Atlantic Union Bankshares Corporation
Company Website: https://www.srarisk.com/
Software Category: Risk and Performance Management Solutions
About the Company: Strategic Risk Associates (SRA) is a SaaS technology solutions provider supported by risk and compliance consulting practices serving the financial services, insurance, and technology industries. SRA's proprietary technology and methodologies were designed and built “by bankers, for bankers” enabling clients to navigate risk and drive growth. SRA Watchtower is an intelligent risk and performance management platform built to continuously inform, enlighten, and empower executives and boards. SRA has helped hundreds of customers effectively navigate through significant risk events since the 2008 financial crisis.