Investment to Amplify Growth and Support Product Innovation For PerformLine’s Industry-Leading Compliance Technology
May 27, 2021 (Morristown, NJ ) — PerformLine, a leading provider of omni-channel compliance technology, today announced a strategic investment from M33 Growth, a Boston-based venture and growth stage investment firm. The growth capital will drive further innovation across PerformLine’s enterprise grade platform and propel customer success as well as continue to accelerate the company’s existing growth.
The M33 investment comes as PerformLine further establishes itself as a best-in-class compliance solution to meet enterprise pre-production and live monitoring needs after recently announcing the addition of a “Document Review” module to its omni-channel compliance platform.
While the level of regulatory scrutiny institutions face, especially those in financial services, insurance and technology, remains extremely high, the channels used to communicate with customers (and the market at large) continue to grow more complex, further intensifying compliance risks.
The PerformLine platform, trusted by brands globally, provides end-to-end sales and marketing compliance, from pre-production verdicts with document review to monitoring across consumer facing channels including the web, calls, messaging, emails, and social media. PerformLine empowers compliance teams at some of the world’s largest banks, fintechs, mortgage lenders and tech companies to protect their brands by proactively finding and remediating potential regulatory risks while scaling coverage and gaining efficiencies through automation.
“Compliance and consumer protection are critical initiatives for brands in regulated markets. We see tremendous long-term opportunity for PerformLine as their technology enables enterprises to quickly build, centralize, and scale their compliance program, all in one platform solution,” said Brian Shortsleeve, Co-Founder and Managing Director of M33 Growth. “[CEO and Founder] Alex and the entire PerformLine team have built an exceptional brand and technology platform as well as a passionate, growing customer base. PerformLine exemplifies the type of company we look to invest in, and we’re excited to partner with their team to further build on their success.”
Due to extensive experience working with regulators and clients in regulated industries since 2007, PerformLine has become the go-to platform leading enterprises choose to power compliance programs across departments, channels, products, and partners, ultimately providing better coverage, deeper insights, and lower costs for critical compliance functions.
“The M33 Growth investment validates the growing demand for PerformLine’s compliance solutions and reflects confidence in our growth plans,” said Alex Baydin, CEO and Founder of PerformLine. “When looking for an investment partner, we placed a premium on finding a firm with a track record of partnering with category-leading software businesses and a willingness to lean into developing our innovative, leading product and helping to execute our high-growth plans. We found that partner in M33.”
PerformLine will benefit from the deep experience fueling sales and marketing engines, driving strategic acquisitions, and capital support that M33 will provide as experienced and successful software investors.
PerformLine is a leading provider of compliance technology that empowers organizations to mitigate regulatory risk across their sales and marketing channels, including the web, calls, messages, emails, documents, and social media. PerformLine automates the path to discover, monitor, and mitigate consumer protection risks and ensure brand safety. The PerformLine SaaS platform features full workflow capabilities, real-time analytics, remediation, monitoring, and archiving while providing significant time and cost savings by automating compliance activities across channels and departments. Visit www.PerformLine.com for more information.
ABOUT M33 GROWTH
M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and breakthrough as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America. Learn more at m33growth.com.