eDiscovery and compliance provider Hanzo last week announced a substantial investment from Recurring Capital Partners totalling $10.5 million.
“Remote working and enterprise collaboration applications that power many of the increasingly digital-first workplaces of today, have fundamentally changed the way we create, transmit, retain, and interact with information,” said Hanzo’s CEO, Julien Masanès. “Legal, compliance, HR, and security teams face significant challenges searching, analyzing, and identifying the vast volumes of information within these complex data sources, leading to enterprises collectively spending hundreds of millions managing discovery and compliance processes. Hanzo’s mission is to simplify the complexity of managing this data so that companies can manage their risk affordably.”
Hanzo plans to invest in its platform as well as sales, marketing, and support.
Masanès said: “We were looking for a financing partner experienced with supporting the unique needs of SaaS enterprises and the flexibility to provide structured capital that aligns to our growing needs as we scale the company. Recurring Capital checked all the boxes.”
Recurring Capital Partners specializes in growth capital for Software as a Service (SaaS) and other recurring revenue model technology-driven companies.