CIBC Innovation Banking provided $4 million in growth capital financing for California-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.
“Redica Systems helps simplify the complex world of regulations and enforcement,” Kevin Grossman, managing director in CIBC Innovation Banking’s Denver office, said. “We’re impressed with the wide adoption of Redica’s platform and excited to help them continue their growth.”
“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,” Michael de la Torre, CEO of Redica Systems, said. “Now we are excited to work with CIBC Innovation Banking to fund that strategy and our continued growth.”
Existing Redica Systems investors include Rock Creek Capital.
