AuditBoard to be Acquired by Hg Capital for Over $3 Billion

London-based private equity firm Hg Capital has acquired Los Angeles-based AuditBoard, a leading GRC platform, for over $3 billion. This acquisition by Hg follows a series of investments into GRC solutions providers, sending a continued message of market validation to the growth and significance of the space. Hg Capital's acquisition of AuditBoard may serve as a strong anchor into the GRC space to support a larger private equity rollup of other GRC solutions.

"We are grateful to our customers and their teams for the trust they have placed in us and view our partnership with Hg as further validation of our practitioner-first focus. The foundation and culture that our founders created has meaningfully scaled to create an opportunity forAuditBoard to become the platform of choice for global organizations to connect and manage risk." AuditBoard CEO Scott Arnold stated. "This is an important milestone for the company, and we couldn't have done it without the unwavering support of our employees, partners, and incredible investors –especially Battery Ventures. We look forward to continuing to build and expand the platform of the future with Hg."

Nic Humphries, Senior Partner and Head of theSaturn funds at Hg, commented, "AuditBoard's astonishing growth is aresult of its commitment to its SaaS-native beginnings, focus on customer success, and a differentiated, truly modern tech stack. We have been trackingthe company's progress for the past five years and see a massive opportunity ahead. We are excited to partner with Scott and the AuditBoard team to supportthe company on its next phase of rapid global growth and platform expansion."

With Hg Capital's vast resources and expertise in scaling tech companies, AuditBoard is well-positioned amidst the rapidly growing GRC market. This acquisition marks a significant milestone for both companies, paving the way for AuditBoard to accelerate its innovation and global reach, while providing Hg Capital with a strong foothold in the dynamic GRC space.

Goldman Sachs and Cooley LLP are serving as advisors to AuditBoard on the transaction.

The GRC Report is your premier destination for the latest in governance, risk, and compliance news. As your reliable source for comprehensive coverage, we ensure you stay informed and ready to navigate the dynamic landscape of GRC. Beyond being a news source, the GRC Report represents a thriving community of professionals who, like you, are dedicated to GRC excellence. Explore our insightful articles and breaking news, and actively participate in the conversation to enhance your GRC journey.