Since 2010, Red Oak has focused on delivering superior and intelligent software solutions to the financial services and insurance industries across the globe, backed by a strong customer-centric culture. We’ve done many great things over the years, and it has truly been exciting to see the incredible growth our organization has experienced.
Now, we find ourselves on a momentous day for our firm, employees, and clients. Today, we announced an investment from Mainsail Partners, a growth equity firm that invests in growing, bootstrapped software companies, just like Red Oak. This investment will allow us to accelerate product development and enhancements to our existing software suite and expand our customer service model to support the needs of financial service and insurance organizations across the globe.
The journey from where we began to where we are now has been incredible. As compliance and technology experts in this space, we recognized the growing need in this industry for intelligent software solutions to help streamline processes and mitigate regulatory risks back when we started the firm in 2010. Since then, we’ve been laser-focused on delivering smart and innovative software to our clients, priding ourselves on their feedback driving our enhancements and future product development because there just isn’t anyone who knows better than the people actually doing the work.
Making the Most of Good Timing
In short, the market timing was right. The complexity of the regulatory environment continues to increase, and over the years, our customers’ needs for additional solutions have grown alongside their feedback to our teams. For those of you who joined us at the 2023 User Conference, you know our product roadmap is already immense and continues to expand. With our current operations, we have delivered on those requests but not always at the pace we wanted. All of that, paired with greater interest and demand for our software, put us in a prime position to think about the future of Red Oak in a much different light.
Why We Chose Mainsail
We had talked with different equity firms over the years but were never interested in taking that path, fearing what might happen to our vision, product, and culture. Red Oak started small and grew to be very successful organically, and we didn’t want to lose that connection with our success. Our initial conversations with Mainsail were much different from any others over the past 13 years, and we started to explore where that path could lead. Their approach to helping firms scale while allowing them to maintain their culture and what they already do so well really changed the dynamic of our conversations. We took our time and spoke with many of their existing partners, and their reputation for preserving the “core” of the organization and expertise in this space really stood out for us. They recognized the established value of our software as a leader and have taken the time to understand our vision for the future. Their purpose-built team comes with deep expertise and resources that will work side-by-side with us to help deliver a powerful suite of products and scale our operations.
What the Future Holds
We have an incredible journey ahead of us. Our clients and the Red Oak team have always been paramount to us and that will continue to strengthen. The industry is evolving quickly, and our expertise in this space tells us that the current demand for intelligent and AI-powered software solutions is only beginning. This investment will help us accelerate our product development and scale our operations to help our customers continue to increase efficiency and effectiveness in their compliance management operations. Ultimately, we believe it will help them further minimize risk and reduce costs for their organizations with an innovative and powerful suite of software solutions. As we advance, our primary focus will remain on delivering valuable software solutions while staying hyper-focused on supporting happy customers.
We are incredibly proud of all our team has accomplished to date and can’t wait to see all we can achieve in this next chapter.
-Stephen, Cathy, and Rick
Want to learn more? Read our press release.
About Red Oak Compliance Solutions
Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.