Hg, the Manager of HgCapital Trust plc  has acquired AuditBoard for over $3 billion. As part of the transaction HgT will invest approximately £87.2 million in AuditBoard, with other institutional clients of Hg investing alongside HgT through the Hg Saturn 3 Fund.

AuditBoard is a leading connected risk platform transforming 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 $200 million in annual recurring revenue during late 2023. Its last funding round took place in 2018 – a Series B led by Battery Ventures, the firm’s largest institutional shareholder.

News in full