Strategic Risk Associates (SRA) Raises $12M in Series B Funding Led by EJF Capital, JAM FINTOP and FINTOP Capital

Injection of capital to accelerate growth and enhance SRA Watchtower’s integrated risk platform for financial institutions

Richmond, Virginia, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Strategic Risk Associates (SRA), a leading provider of integrated risk and performance management SaaS technology (WatchtowerTM) for the Financial Services and Insurance Industry, today announced the closing of a $12 Million Series B capital raise.  This round of funding was co-led by EJF Capital (“EJF”), through its affiliate the EJF Silvergate Ventures fund, JAM FINTOP, and FINTOP Capital, with participation by longtime SRA customer Atlantic Union Bankshares Corporation, and other existing investors.

“Financial Institutions need a panoramic view of risks that provide the board and executive management better oversight of their business and addresses the increasing regulatory burden and economic realities of today’s banking environment,” said Michael Glotz, CEO and Co-Founder of Strategic Risk Associates.  “SRA’s vision is to help our clients improve hindsight, insight, and foresight into their organization’s risks and opportunities through advanced data analytics and continuous monitoring.”

With decades of experience in risk and compliance, the SRA team has built a reputation as the trusted experts in helping Financial Institutions and Insurance companies adapt to changing regulatory pressures. This investment allows SRA to continue this work at scale with the robust Watchtower™ SaaS platform and expand their integrated risk suite of offerings to support FinTech and Digital Asset risk management.

“EJF believes that the banking industry is undergoing a rapid evolution to a substantially more real-time data-driven future.  Success will be predicated on managing enterprise risk through advanced tools such as Watchtower.  These tools will help both banks and their regulators properly assess direct and indirect risks across the spectrum of their balance sheet,” says Jonathan Bresler, Managing Partner of the EJF Silvergate Ventures Fund.

JAM FINTOP and FINTOP Capital believe SRA is uniquely positioned to become the leader in enabling banks to compliantly offer next-generation banking services,” adds Joe Maxwell, Managing Partner of FINTOP Capital.

SRA works with hundreds of financial institutions across the US that are concerned with today’s regulatory environment and risks associated with adding modern products, such as (crypto) digital assets, and keeping track of their 3rd party vendors. The expansion of Watchtower’s Fintech Risk Management Suite will help banks and credit unions measure their FinTech risk maturity, offering quarterly risk assessments, including issue management, and continuous monitoring through interactive dashboards and data visualizations to ensure they mitigate risk, stay compliant and conform with guidance from regulators.

 

About Strategic Risk Associates

Strategic Risk Associates (SRA) is a SaaS technology solutions provider supported by a risk and compliance consulting practice serving the Financial Services, Insurance, and Technology industries. SRA's proprietary technology and methodologies were designed and built “by bankers, for bankers” enabling clients to navigate risk and drive growth. SRA Watchtower is an intelligent risk and performance management platform built to continuously inform, enlighten, and empower executives and boards. SRA has helped hundreds of customers effectively navigate through significant risk events since the 2008 financial crisis.

To learn more, visit www.SRArisk.com or follow on LinkedIn

Media Contact

Ryan Donelson  |  Strategic Risk Associates  |  rdonelson@srarisk.com

 

About EJF Capital

EJF Capital LLC is a global alternative asset management firm headquartered outside of Washington, D.C. As of June 30, 2022, EJF manages approximately $4.4 billion across a diverse group of alternative asset strategies. The firm was founded in 2005 by Manny Friedman and Neal Wilson. Since inception, EJF has focused on regulatory event-driven investment themes including its strategy to invest in Qualified Opportunity Zones.

Media Contact:

Nathaniel Garnick / Kevin FitzGerald  |  Gasthalter & Co.  |  (212) 257-4170

 

About JAM FINTOP

JAM FINTOP brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. JAM has a 27-year history investing in public and private community banks, and FINTOP Capital is a leading fintech investor with over 140 years of collective experience.

Media Contacts

Adam Aspes, JAM Special Opportunity Ventures | adam@jampartners.com

Matt Kelley, JAM Special Opportunity Ventures | matt@jampartners.com

 

About FINTOP Capital

FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn., St. Louis, Mo., New York City, Jacksonville, Florida, and New Jersey. Run by financial leaders and operators who have built successful startups themselves, the firm understands the ups and downs of the startup world. They bring strong networks, experience and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space.

CONTACT: Ryan Donelson Strategic Risk Associates 407-247-3988 rdonelson@srarisk.com