CIBC Innovation Banking is pleased to announce a $4 million growth capital financing for Pleasanton-based Redica Systems (formerly Govzilla), a cloud-based regulatory and compliance platform that provides data and insights to quality and safety professionals in regulated industries globally.
Redica Systems enables pharma, medical device and food manufacturers to use data and AI to reduce risk in large manufacturing environments and ensure regulatory compliance. The company’s unique platform provides customers with insights to continuously improve compliance, reduce supplier risk and increase team efficiency.
“Redica Systems helps simplify the complex world of regulations and enforcement,” said Kevin Grossman, Managing Director in CIBC Innovation Banking’s Denver office. “We’re impressed with the wide adoption of Redica’s platform and excited to help them continue their growth.”
Read More: GlobalFintechSeries Interview with Rob Rosenblatt, CEO at Behalf Inc.
“We have worked closely with our customers in order to shape Redica’s strategic focus, which involves using actionable data intelligence to build up to an entirely new way of thinking about, simplifying, and guiding regulatory compliance,” said Michael de la Torre, Redica Systems Chief Executive Officer. “Now, we are excited to work with CIBC Innovation Banking to fund that strategy and our continued growth.”
Read More: What a Revised US SEC Accredited Investor Definition Means for Digital Securities Markets
