Hg will see a deal for more than $3 billion, an investor in compliance, risk, and accounting software, purchase AuditBoard, a Los Angeles, California-based supplier of a connected risk platform for audit, risk, compliance, and ESG management.
Hg will support AuditBoard in expediting future development as it broadens its platform and extends its worldwide presence.
About AuditBoard
AuditBoard, under the direction of CEO Scott Arnold, offers an integrated risk management platform that is cloud-based and networked for managing audit, risk, compliance, and ESG. Currently, the organization provides services to over 2,000 businesses, including over half of the Fortune 500.
2014-founded AuditBoard said earlier this year that it would surpass the $200 million annual recurring revenue milestone by the end of 2023. Battery Ventures led the company’s Series B fundraising round, which concluded in 2018.
