AuditBoard To Be Acquired by Hg for Over $3 Billion


AuditBoard, a Los Angeles, CA-based provider of a connected risk platform for audit, risk, compliance and ESG management, is to be acquired by Hg, an investor in compliance, risk and accounting software, in a transaction valued at over $3 Billion.

Hg will help AuditBoard accelerate further growth as the company continues to expand its platform and global reach.

Led by CEO Scott Arnold, AuditBoard provides a cloud-based connected risk management platform to manage audit, risk, compliance, and ESG management. The company now serves more than 2,000 enterprises, including nearly 50% of the Fortune 500.

Founded in 2014, AuditBoard announced earlier this year it had crossed a milestone of $200m in annual recurring revenue during late 2023. Its last funding round took place in 2018 – a Series B led by Battery Ventures.