The closure of a $12 million Series B capital raising was announced today by Strategic Risk Associates (SRA), a top supplier of comprehensive risk and performance management SaaS technology (WatchtowerTM) for the financial services and insurance industries. Along with longtime SRA client, Atlantic Union Bankshares Corporation and other existing investors, this round of funding were co-led by EJF Capital (“EJF”), through its affiliate the EJF Silvergate Ventures fund, JAM FINTOP, and FINTOP Capital.

“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,”

“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.”

                                 Michael Glotz, CEO and Co-Founder of Strategic Risk Associates.

With decades of risk and compliance experience, the SRA team has built a reputation as trusted experts in helping financial institutions and insurers adapt to changing regulatory pressures. . This investment enables SRA to continue this work at scale with the powerful Watchtower™ SaaS platform and expands its suite of integrated risk services to support digital asset and Financial Technology 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,”

                       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,”

                                                         Joe Maxwell, Managing Partner of FINTOP Capital.

SRA works with hundreds of financial institutions across the US that are concerned about the current regulatory environment and the risks associated with the addition of modern products, such as digital assets. (crypto currency) and track their third-party vendors. The expansion of Watchtower’s Fintech Risk Management Suite will help banks and credit unions measure FinTech risk maturity, issue quarterly risk assessments, including issue management and monitoring Continuous monitoring through interactive dashboards and data visualizations to ensure they are mitigating risk, complying and complying with regulatory guidance.