AuditBoard

Primary category: enterprise-grc.

One-liner — A cloud audit-and-risk platform that grew from internal audit into a broad connected-risk (GRC + ESG) suite; now PE-owned by Hg.

What it does — AuditBoard started in internal audit / SOX and expanded into a “connected risk” platform: audit management, risk management, compliance (SOX, IT compliance), third-party risk, and ESG reporting. Strong traction with internal-audit and finance teams; serves 2,000+ enterprises including roughly half the Fortune 500.

Where it sits in the stack — enterprise-grc, governance layer. System of record for audit/risk/compliance, not a runtime data control or inline prompt/egress control. Can host AI-governance and model-risk attestations as part of compliance workflows, overlapping ai-governance-platform.

Deployment & architecture — SaaS. Integrates with ERP/finance systems, IT and security tooling; questionnaire and evidence-collection automation; AI features for audit/risk workflows.

Positioning & differentiators — Known for an audit-first heritage and usability, which differentiates it from risk-first incumbents archer / servicenow and no-code challengers logicgate / onspring. Strongest where internal audit drives the buy.

Ownership, funding & M&A — acquired. Acquired by Hg (software-focused PE) for over $3 billion — announced 2024-05-23, completed in 2024. Founded 2014; HQ Cerritos, CA; reached ~$200M ARR by late 2023; prior round Series B 2018 (Battery Ventures). The seed flag “AuditBoard acq by Hg 2024” is confirmed against Hg’s own release. (high confidence)

CTO / hedge-fund lens — Day-1 GRC, particularly for funds where internal audit / SOX-style controls drive the requirement. Good fit for a fund with a real internal-audit function; for a small fund whose need is purely AI governance, a lighter or AI-specific tool may suffice.

Competitors / alternatives — servicenow, archer, logicgate, onspring, onetrust.

Open questions / to verify — Post-Hg product roadmap; depth of native AI-governance vs. dedicated platforms.

Sources

• AuditBoard agrees to be acquired by Hg — fetched 2026-06-28 — supports: Hg acquisition >$3B, date, founded 2014, $200M ARR, scope; confidence: high
• Hg acquires AuditBoard for $3B (SecurityWeek) — fetched 2026-06-28 — supports: deal value, independent corroboration; confidence: high

History

• [2026-06-28] Stub created from seed registry.
• [2026-06-28] Researched; CONFIRMED seed flag — acquired by Hg PE for >$3B (2024); ownership independent→acquired; confidence high.