Strevus, a provider of cutting-edge, relationship-driven risk and compliance management solutions for financial service institutions, today announced that it received $5.6M in Series A funding led by Blumberg Capital and with participation from U.S. Venture Partners and existing Angel investors. Strevus’ funding underscores the Company’s progressive vision and patent-pending regulatory compliance solution.
With new compliance requirements looming for already jumpy banks, startup software developer Strevus has raised $6.5 million for its risk and compliance service. The company raised its first institutional round from lead investor Blumberg Capital and U.S. Venture Partners after picking up seed investments from a who’s who of the technology community, including BlackBerry CEO John Chen; Ken Goldman, the Yahoo CFO; and former Oracle COO Terry Garnett. “The world has changed quite a bit with the financial service meltdown, and regulatory compliance is the resulting fact in today’s world,” said Strevus Chief Executive Ken Hoang in an interview.