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Galvanize (software company)

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Galvanize
Company typePrivate
IndustryComputer software
Governance, risk management, and compliance
PredecessorACL Services Ltd.
Founded1987; 37 years ago (1987)
Headquarters
Vancouver, British Columbia
,
Canada
Key people
ProductsHighBond, ACL Robotics, RiskBond, FraudBond, AuditBond, ControlsBond, ComplianceBond, Rsam ITGRCBond, Rsam ThirdPartyBond, Rsam ContinuityBond, Rsam PolicyBond, Rsam IncidentBond, Rsam CyberBond
Number of employees
500+
ParentDiligent Corp.
Websitewww.wegalvanize.com

Galvanize (formerly known as ACL Services Ltd. and currently branded as Diligent) is a privately owned software as a service (SaaS) company founded and headquartered in Vancouver, British Columbia, Canada.[1] The Company builds security, risk management, compliance and audit software for the governance, risk management, and compliance (GRC) market.

Diligent's office in Vancouver is where many of the former Galvanize team work. In addition to Diligent offices in the UK, Ireland, Singapore, India, Australia and Mexico, they also have a number of representatives and partners around the world, including throughout Africa, France, Germany, Malaysia, the Philippines, Indonesia, and China.

History

While working in the Faculty of Commerce's Division of Accounting at the University of British Columbia in 1972, Hartmut J. Will (Hart Will) developed the first interactive audit software, "Audit Command Language" (ACL) for data bank and model bank audits.[2]

In 1987, Will and his son, Harald Will, launched the commercial business ACL Services Ltd. Harald Will grew the company as founder & CEO until inviting Laurie Schultz to assume the role of President and CEO of ACL in 2011.[3][4]

In 2012, ACL expanded into the electronic work papers market with the acquisition of Workpapers.com, led by Dan Zitting.[5] The acquisition signaled the shift by the company towards a cloud-based, SaaS business model.[6]

ACL acquired digital design firm Artletic LLC in 2015.[7]

ACL took its first outside funding in the form of a $50 million strategic minority investment led by the growth equity team at Norwest in December 2017.[8]

In November 2018, the company was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc.[9]

ACL acquired Rsam in February 2019.[10]

In March 2019, the company was named one of "Canada's Best Managed Companies."[11]

In May 2019, the company rebranded from ACL to Galvanize.[12]

In March 2020, Galvanize was once again named one of "Canada's Best Managed Companies" for the second consecutive year.[13] Galvanize was also named a Leader in The Forrester Wave: Governance, Risk, and Compliance Software for Q1 2020.[14]

In February 2021, Galvanize announced that they had been sold to Diligent Corp.[15]

Products and services

HighBond platform

The HighBond platform was designed for security, risk management, compliance, and audit professionals. In 2023, it was rebranded the Diligent One platform. Using an organization's data, these professionals use the platform to:

  • manage threats
  • assess risk
  • measure controls
  • monitor compliance
  • expand assurance coverage.

The Diligent One Platform is a cloud-based platform that doesn't rely on third-party vendors and is hosted on Amazon's infrastructure.[16]

Awards and accolades

In November 2018, the Company was named one of Canada's Top 100 Employers by Mediacorp Canada Inc.[9]

In March 2019, the Company was named one of Canada's Best Managed Companies.[11]

See also

References

  1. ^ Orton, Tyler (13 May 2019). "Vancouver tech mainstay ACL rebrands as Galvanize". Business in Vancouver. Retrieved 7 August 2019.
  2. ^ "The man who made 'auditing through the computer' possible - Meet the inventor of ACL" (PDF).
  3. ^ "Laurie Schultz Named CEO of ACL". Accounting Today. Retrieved 2017-11-23.
  4. ^ "Leadership". ACL. 2015-07-23. Retrieved 2017-11-23.
  5. ^ Fineberg, Seth (12 December 2011). "ACL Services Acquires Workpapers.com". Accounting Today. Retrieved 7 February 2013.
  6. ^ Bennett, Nelson (4 December 2012). "Laurie Schultz: Class struggle". Business in Vancouver. Archived from the original on 10 December 2013. Retrieved 7 February 2013.
  7. ^ "ACL Invests in GRC Software Usability with Acquisition of Design Firm Artletic". ACL. 2015-05-28. Retrieved 2017-03-02.
  8. ^ ACL. "ACL Accelerates Category Consolidation Vision with $50 Million Strategic Investment from Norwest". www.prnewswire.com. Retrieved 2018-03-15.
  9. ^ a b "Top Employer: ACL Services Ltd". content.eluta.ca. Retrieved 2017-11-22.
  10. ^ "ACL acquires Rsam". Compliance Week. 4 February 2019. Retrieved 7 August 2019.
  11. ^ a b "ACL Named One of Canada's Best Managed Companies" (Press release). 7 March 2019. Retrieved 7 August 2019.
  12. ^ "Introducing Galvanize: ACL and Rsam Rebrand to Create GRC Category-Defining Company" (Press release). 13 May 2019. Retrieved 7 August 2019.
  13. ^ "Galvanize Named One of Canada's Best Managed Companies for Second Consecutive Year". Olean Times Herald. Retrieved 2020-03-05.
  14. ^ Releases (2020-03-10). "Galvanize Named a leader in Governance, Risk, and Compliance Software by Independent Research Firm" (Press release). Financial Post.
  15. ^ "Vancouver-based risk and compliance software provider Galvanize sold for US$1-billion". theglobeandmail.com. 2021-02-26.
  16. ^ "ACL transitions to cloud for broader global reach | GRC & Fraud Software Journal". www.fraudjournals.com. Retrieved 2017-03-02.
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