Convercent Raises $10.2M for Semantic Compliance Software

Alex Williams of Tech Crunch reports, "Convercent has raised $10.2 million for its compliance software that helps companies promote the good and manage the bad. The round was led by Azure Capital Partners with Mantucket Capita participating in the round. Convercent uses social, mobile and the tenants of the consumer user interface and mobile apps to the often antiquated world of compliance and corporate ethics. The software replaces what is often just a .pdf file that people have to read when they get hired."

Williams goes on, "Convercent uses semantic web technologies to link disparate data sets that help anticipate issues and be proactive instead of reactionary to bad things that happen inside companies. The technology aggregates unstructured data and builds analysis around it. It visualizes a corporation’s data so the compliance officer can get a broad or detailed picture of the organization. Current providers like Ethics Point rely on heavy enforcement tactics to enforce corporate policies. It focuses on making sure employees go through corporate training and materials. Convercent says it can anticipate issues that may arise through its granular views of the organization and where the trouble spots are surfacing."

Read more here.

Image: Courtesy Convercent