Fusion Risk Management, a Rolling Meadows, Ill.-based provider of SaaS software for business continuity risk management, has raised $41 million in a recent Series C funding round. NYC-based growth equity firm Catalyst Investors led the round, joining existing investor Level Equity.
Founded in 2006 by a team of industry vets, Fusion aims to help companies manage operational risk through a strategic approach to business resilience, response and recovery programs. Back when the the company “was an idea and nothing more,” co-founder and CEO David Nolan, along with 10 angel investors, provided an initial $2 million. Nolan says the angel investors are now exiting the Series C round with six times their initial investments.
Fusion’s CEO says the funding will help the tech firm expand, reinforce its sales and marketing team, boost customer service and improve its engineering and product development capabilities. Plans also include tripling Fusion’s Chicago office. Nolan suggests the latest fundraising round will be Fusion’s last as it plans to “quickly move toward profitability.”
Catalyst Investors partner Ryan McNally applauded the firm for its reputation with Fortune 500 companies, not only for its “exceptional risk management platform,” but also as “one of the tech industry’s top customer service practices.” Fusion lists over 165 clients across financial services, health care, insurance, retail, manufacturing, and other industries.
The firm provides its flagship SaaS solution, the Fusion Framework System, alongside a suite of offerings including a mobile application for employee safety and security called Fusion Enterprise Community, an advisory consulting services platform, Fusion Fuel, and Fusion Connector Series, for managed pre-built integrations to enterprise and third party systems.
“We have been very impressed with the pace at which Fusion has grown. The company has seen a huge acceleration in virtually every metric since our investment,” said Ben Levin, Founder and Partner at Level Equity. “More and more companies see the necessity of having a hardened enterprise risk management strategy in place and the Fusion Framework allows companies to rapidly address their operational risk so they can manage the unexpected.”