Galvanize Acquisition, Valuation, Funding & Investors
Galvanize was acquired by Diligent for $1B in February 2021.
Galvanize acquisition price
$1B
Acquired by Diligent · Feb 2021
Cumulative funding Galvanize raised
$50M
across 1 funding round
Key investors in Galvanize
Norwest
About Galvanize
Galvanize is a Toronto-headquartered provider of integrated governance, risk, and compliance software through its HighBond platform. The suite unifies audit management, risk assessments, and cybersecurity workflows for enterprises including banks and utilities. Rebranded under Diligent in 2021, it serves over 1,500 organizations worldwide.
Founded
1987
HQ
VancouverWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$1B (acquired Feb 2021)
Galvanize Acquisition
Galvanize was acquired by Diligent for $1B on 24 February 2021.
Before the acquisition Galvanize had raised $50M across 1 funding round.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 24 Feb 2021 | PE buyout | $1B |
Galvanize Funding History
Galvanize has raised a total of $50M across 1 funding round.
Galvanize funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2017 | Undisclosed stage | Norwest (lead) | $50M | Galvanize, originally founded as ACL Services in 1987, developed into a leader in governance, risk, and compliance (GRC) software, specializing in audit analytics and risk management platforms. By 2017, under CEO Laurie Schultz, the company sought growth capital to modernize, migrate customers to the cloud, launch new products, make strategic acquisitions, and rebrand, partnering with Norwest Venture Partners (also called Norwest) as lead investor in a Series C round of $50 million on December 19, 2017. Norwest supported Galvanize's transformation, helping it achieve recognition in The Forrester Wave for GRC Software Leaders quadrant. The funding enabled expansion and operational scaling, building significant momentum. Sources indicate Galvanize generated more than $100 million in revenue and roughly $20 million in EBITDA around the time it was preparing for an auction process, though exact timing relative to the 2017 round is unspecified. Norwest maintained a focus on balanced growth across employees, customers, and financials. In 2021, Galvanize attracted multiple unsolicited acquisition bids and agreed to sell to Diligent for $1 billion, with Norwest rolling partial ownership into the combined entity and remaining a shareholder. This exit underscored the success of the strategy post-2017 investment. Note that other entities like We Galvanize (India-based, same $50M Series C from Norwest in Dec 2017) and Galvanize Therapeutics (later $100M rounds) appear in results but differ from the GRC software firm. |
Who has invested in Galvanize?
1 investor has backed Galvanize across its funding rounds, including Norwest.
Lead investors include Norwest.
Galvanize Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Galvanize investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by Galvanize
Galvanize has invested in 6 companies to date.
Latest investment by Galvanize was on November 24th 2025. Galvanize invested in X-Energy in their $700M Series D round.
Latest Investments by Galvanize
| Description | X-Energy Inc is a leading developer of advanced SMR and fuel technology for clean energy generation. It is seeking to redefine the nuclear energy industry through its flagship product, the Xe-100, an advanced small modular HTGR designed to generate up to 80 megawatts of electric power and/or up to 200 megawatts of thermal output, depending on the configuration. X-energy’s simple and intrinsically safe advanced SMR designs, like the Xe-100, significantly expand the applications and markets for nuclear technology with enhanced safety, lower cost and faster construction timelines when compared with conventional nuclear energy sources and broader use cases when compared with other SMRs. | Pana is a Denver-headquartered software company founded in 2014 specializing in mobile travel management. Its app enables bookings, itinerary management, concierge support, and perks like upgrades and experiences through conversational interfaces mimicking text messaging. | Goby is the doing-business-as name of BGLG, Inc., a direct-to-consumer brand selling electric toothbrushes and oral care kits. Manufactured in China, its subscription model delivers replacement heads quarterly from a New York fulfillment center, targeting US consumers through goby.co. | Vow To Be Chic is an online rental service for designer bridesmaid dresses and Little White Dresses in the US. Headquartered in Los Angeles, it offers over 500 styles from brands like Amsale and Jenny Yoo, shipped nationwide with dry-cleaning included. Customers rent for $100-300 per event, addressing the $1,700 average bridesmaid cost. Founded in 2014, the platform simplifies sizing with virtual try-ons and group coordination tools. | |
| HQ Country |  | | | | |
| HQ City | Washington, DC | Denver, CO | New York City, NY | Los Angeles, CA | |
| Deal Date | 24 Nov 2025 | 29 Apr 2019 | 5 Oct 2016 | 15 Jun 2016 | |
| Round | Series D | Series A | Seed | Series A | |
| Raised | $700M | $10M | $2M | $5M | |
| Investors | NGP Energy Capital Management; Emerson Collective; Reaves Asset Management; Point72; Jane Street; Corner Capital Management; ARK Investment Management; Hood River Capital Management; XTX Ventures; Ares Management; Segra Capital | MergeLane; FG Angels; Bessemer Venture Partners; Matchstick Ventures; Techstars; 500 Global | BBG Ventures; Brand Foundry Ventures; Lerer Hippeau; Rosecliff Ventures; Red Sea Ventures; Correlation Ventures | Pritzker Group Venture Capital; Anthem Venture Partners; BAM Ventures; Upslope Ventures; Wavemaker Partners; WomensVCFund | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Galvanize investments and their VC round multiples. Start Free Trial | |||||
Common questions about Galvanize
| When was Galvanize founded? | Galvanize was founded in 1987. |
| Where is Galvanize headquartered? | Galvanize is headquartered in Vancouver, Canada. |
| Is Galvanize publicly listed? | No, Galvanize was acquired by Diligent in February 2021. |
| Who acquired Galvanize? | Galvanize was acquired by Diligent in February 2021. |
| How much was Galvanize acquired for? | Galvanize was acquired for $1B in February 2021. |
| How much funding has Galvanize raised? | Galvanize has raised $50M across 1 funding round. |
| What was Galvanize's last funding round? | Galvanize's last funding round was a $50M undisclosed-stage round in December 2017, led by Norwest. |
| Who are Galvanize's investors? | Galvanize's investors include Norwest. |
| How many companies has Galvanize invested in? | Galvanize has invested in 6 companies, including X-Energy, Pana, Goby, Vow To Be Chic, Slash Keyboard and Testlio. |
| What was Galvanize's last investment? | In November 2025, Galvanize invested in X-Energy's $700M Series D alongside NGP Energy Capital Management, Emerson Collective, Reaves Asset Management and 8 other investors. |
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