Narayan AmmachchiNew York-based SaaS provider Diligent Software grew its pressence in Latin America by launching a new delivery center in Guadalajara, Mexico.
Diligent has already hired 75 professionals to staff its new Mexican office and, according to company executives, plans to increase headcount in the coming months.
Most of Diligent’s revenue comes from its portfolio of governance, risk and compliance software solutions. The company charges a subscription fee that gives customers access to board management software, secure messaging tools, voting administration systems and solutions that streamline complex regulatory, compliance, and risk management processes.
Diligent claims to serve over 25,000 businesses, including around 65% of Fortune 1000 companies. Its Guadalajara office will act as a hub for the company’s Latin American operations, supporting clients across the region by providing localized services and expertise.
Diligent was founded in 1994 as a consulting firm specializing in secure webhosting for financial institutions. The company has changed much in the past decade, transforming significantly during the COVID years. Many of its solutions fit perfectly in a post-pandemic world where tech is deeply embedded in business operations.
“So many board meetings went online. Just overnight, everything went digital,” said Lisa Edwards, executive chair of the Diligent Institute, in a recent interview with FinTech Futures.
Growth through Acquisitions
Much of Diligent’s post-COVID transformation was achieved through a series of strategic acquisitions.
In February 2021, the company acquired Galvanize, a governance, risk, and compliance software provider, in a deal worth approximately US$1 billion.
This was followed by the acquisition of Steele Compliance Solutions, a specialist in compliance management whose clients include over a quarter of Fortune 250 companies.
These acquisitions enhanced Diligent’s offerings, enabling the company to provide a more comprehensive and integrated GRC platform to its clients.
More recently, Diligent bought of Insightia, a SaaS platform that offers insights into shareholder activism, proxy voting and corporate governance.
Today, Diligent operates offices in major technology hubs around the world: from London, Dubai and Singapore, to Bangalore, New York and (now) Guadalajara.
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