Venminder

Venminder provides a SaaS platform for third-party risk management (TPRM) and vendor risk management, covering the full vendor lifecycle from onboarding through ongoing management to offboarding. Core platform capabilities include risk assessments with custom questions and scoring, questionnaire building and distribution, oversight management with assignable tasks, issue management, SLA management tied to contract management, a central contract repository, spend analysis, continuous monitoring, reporting and dashboards, advanced workflows and business unit permissions. The platform is described as configurable without code, and the company markets an "unlimited" model in which customers can add users, vendors and assets without additional cost [3].

Alongside software, Venminder sells outsourced vendor control assessments: customers order due diligence assessments performed by Venminder's in-house experts, who hold certifications such as CISSP, CTPRP, CPA, CRISC, GCIH, ABCP and CCNA, and who produce qualified risk ratings and reviews of areas including information security, SOC reports, contracts, financials and business continuity/disaster recovery [3][6]. Additional offerings include managed services such as document collection, the Ven-monitor risk intelligence product for real-time monitoring across multiple risk domains without supplier involvement, and the Venminder Exchange marketplace of completed vendor risk assessments [0][3][6]. The company also operates a free online community for third-party risk professionals (previously described as Third Party ThinkTank) and publishes an extensive library of free educational content including webinars, eBooks, infographics and blog posts [0][6].

Current website materials brand the product as "Venminder by Ncontracts" and describe a single AI-powered platform; the contact page lists Ncontracts headquarters at 1221 Broadway, Suite 1900, Brentwood, TN 37027 [0][4].

Founding story

Venminder was founded by Dana Bowers, a serial entrepreneur who previously founded iPay Technologies [6]. Silversmith Capital Partners cited the opportunity to partner again with the team that built iPay as a factor in its investment [6].

Business model

Venminder sells a subscription SaaS vendor risk management platform, supplemented by fee-based services: outsourced vendor control assessments and due diligence reviews performed by its own certified analysts, managed services such as document collection, and access to the Venminder Exchange library of completed vendor risk assessments [0][3][6]. The platform is marketed on an unlimited-scale model in which additional users, vendors and assets do not incur extra cost [3].

Software platform subscriptions plus paid, expert-delivered due diligence and assessment services; pricing is not disclosed in the sources, though the platform is promoted as scaling without incremental per-user, per-vendor or per-asset charges [3].

Traction

More than 1,200 customers worldwide as of current website materials [0][1][2][3]; 800 customers reached in 2020, with revenue nearly tripling over the prior three years [6]. Third-party validation includes a 4.6 out of 5 average across 163 Gartner Peer Insights reviews as of January 3, 2024, and top scores in two of three use cases in Gartner's 2020 Critical Capabilities report for IT vendor risk management tools [0][6].

Latest developments

The website now markets the product as "Venminder by Ncontracts," a single AI-powered platform, and promotes Ven-monitor, a risk intelligence product delivering real-time monitoring across multiple risk domains without requiring supplier involvement [0][4]. The company continued publishing TPRM guidance content through October 2025 [0].