VinciWorks, an Israeli risk management and compliance company, has been acquired by GRC software giant, Marlowe - based in London. The Jerusalem based startup has experienced rapid growth following the mass migration to digital infrastructure. According to the parties involved, the British corporation will acquire VinciWorks for almost $74 million.
Alex Dacre, Chief Executive of Marlowe plc, noted that “the acquisition of VinciWorks is a major development in Marlowe’s strategy to become the market leader in governance, risk and compliance software and cements our position as the UK’s leading GRC compliance eLearning business…”
60 of the top 100 law firms
Compliance can cause significant friction for companies, especially multi-nationals, who need to track and comply with a growing number of complex risks and regulations. In addition, consumers are increasingly demanding that companies provide transparency around environmental, social and governance issues.
VinciWorks helps companies to confidently comply with these regulations and provide transparency reports to stakeholders. The Israeli company’s compliance tools include a comprehensive e-learning platform that enables companies to reduce risk by training employees on their responsibilities and tracking understanding. The e-learning platform adapts the training to the location, job role and knowledge of each employee.
According to VinciWorks, it has over 500,000 users, among 530 global clients, with 60 of the 100 law firms also onboard. Listed on the London Stock Exchange, Marlowe will engulf the Jerusalem company’s R&D and service while also incorporating VinciWorks’ tools into its growing risk and compliance portfolio.
According to Yehuda Solomont, VinciWorks’ CMO, the company is in the midst of developing a next-generation compliance platform that will enable companies to centrally manage their risk and compliance from a single system. The platform gives risk and compliance professionals a centralized view of all global compliance and has potential to leverage AI and machine learning to discover breaches and emerging risks.
Josh Goodhardt, CEO of VinciWorks: “Joining Marlowe was a natural next step for VinciWorks. Marlowe’s expertise and resources will help us accelerate our vision for a one-stop governance, risk and compliance platform. VinciWorks has grown rapidly from an e-learning business into a comprehensive risk, compliance and ESG solution. As the GRC market develops, global organizations face compliance with an ever increasing number of complex regulations and ESG requirements. VinciWorks has the regulatory knowledge and technical expertise to, together with Marlowe, build a next-generation platform for identifying and navigating risk and compliance around the globe.”