How Much Did RapidRatings Raise? Headquarters, Funding & Key Investors

RapidRatings, a New York-based vendor risk management platform founded by Patrick Caragata in 2002, has raised $255 million across three rounds to expand its financial risk analytics. The company secured $21M in Series A funding from LLR Partners (2016), $30M in Series B funding from FTV Capital (2018), and a $200M Series C led by Spectrum Equity and 22C Capital in 2022. This funding supports global expansion, advanced predictive modeling, and product innovation. RapidRatings enables enterprises to evaluate third-party financial health and minimize operational and regulatory risks.

How Much Did RapidRatings Raise? Funding & Key Investors

RapidRatings, headquartered in New York City, is a cloud-based vendor risk management platform that delivers actionable insights into companies' financial health. Founded in 2002 by Patrick Caragata, the company has raised $255M from investors including Spectrum Equity, FTV Capital, and LLR Partners. RapidRatings helps insurance underwriters, investors, trading partners, and enterprises assess the stability of third-party vendors, suppliers, and counterparties, reducing financial and operational risk.

What Is RapidRatings and What Does It Do?

RapidRatings, founded by Patrick Caragata, is headquartered in New York City, New York. James H. Gellert serves as the company's CEO.

With a workforce of 51-200 employees, RapidRatings offers a cloud-based solution that evaluates the financial health of third parties, providing risk scores and predictive analytics. The platform enables organizations to proactively manage vendor risk, optimize financial decisions, and ensure regulatory compliance, making it essential for financial institutions and enterprises.

How Much Funding Has RapidRatings Raised?

1. Series A

Amount Raised: $21M
Date: May 2016
Lead Investors: LLR Partners
Motivation: To develop the company’s vendor risk analytics platform and expand its market reach.

2. Series B

Amount Raised: $30M
Date: August 2018
Lead Investors: FTV Capital
Motivation: To enhance the analytics platform, increase adoption among financial institutions, and scale operations.

3. Series C

Amount Raised: $200M
Date: February 2022
Lead Investors: Spectrum Equity, 22C Capital
Motivation: To accelerate product development, expand globally, and strengthen market presence.

Total Funding Raised: $255 Million

Latest Funding Date: February 2022

Key Investors

1. Spectrum Equity

Details: Growth equity firm investing in technology-driven companies with strong expansion potential.
Investment Focus Areas: Software, technology, data analytics
Notable Investments: Infor, Bill.com, McAfee

2. FTV Capital

Details: Private equity and growth equity firm focused on software and tech-enabled services.
Investment Focus Areas: Enterprise software, financial services, analytics
Notable Investments: Qualys, Apptio, Ellie Mae

3. LLR Partners

Details: Growth-focused private equity firm investing in technology, healthcare, and financial services companies.
Investment Focus Areas: Software, financial services, technology
Notable Investments: Veracode, Centric Brands, Lumere

Where Is RapidRatings’ Headquarters?

RapidRatings is headquartered in New York City, providing access to a vibrant financial ecosystem, top-tier talent, and proximity to major global financial institutions and regulatory bodies.

What’s Next for RapidRatings?

RapidRatings is positioned to capitalize on the growing need for comprehensive vendor risk management solutions. The Series C funding enables expansion of its cloud-based analytics platform, development of advanced predictive models, and global market growth. With increasing regulatory scrutiny and the growing importance of third-party risk assessment, RapidRatings is well-positioned to support enterprises in maintaining financial stability and compliance.

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