AuditBoard is acquired by Hg in $3bn deal

The company has been praised for running in an extremely ‘capital-efficient manner’ 

May 27th 2024

AuditBoard has announced that it has reached an agreement to be acquired by Hg, a leading risk and accounting software investor. 

The company founded in 2014 has offices in Orange County and London and serves nearly 50% of the Fortune 500 with its software.  

AuditBoard is a connected risk platform for audit, risk, compliance and ESG management. Just months earlier, the company announced it had achieved $200 million in annual recurring revenue. A previous funding round took place in 2018, a Series B led by Battery Ventures, the firm’s largest institutional shareholder.

“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.”

Scott Arnold, AuditBoard CEO.

The Startup Opportunity      

AuditBoard has seen incredible growth in just ten years and this is a testament to what can be achieved in today’s economy as a startup with perseverance and vision. 

Building an innovative solution which businesses need and which becomes vital to their own success, is the first step. 

Having customer success at the heart of operations is the second.  

Careful financial planning, strategic pricing and having the right investment partners are other key components of a winning strategy.   

Of course, not all businesses have such happy outcomes, as building a successful startup is incredibly difficult. But with the right idea and the right management, results like these are possible. 

Read the full press release via the AuditBoard newsroom

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