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Integration level of AuditBoard in Hg's portfolio by 2025
4
Resolution / Starting Odds
Full integration • 33%
Partial integration • 33%
Operates independently • 34%
Corporate strategy releases, financial analyst reports
Story
Hg Nears $3 Billion Acquisition of AuditBoard Including Debt
May 24, 2024, 01:45 PM
Hg is nearing an acquisition of AuditBoard, a leading connected risk platform and risk management software provider, in a deal valued at about $3 billion including debt. AuditBoard, which specializes in audit, risk, compliance, and ESG management, has been recognized for its significant impact on the industry. The company raised $40 million in Series B funding at a $150 million valuation in 2018 and has not raised primary capital since. The acquisition highlights the resilience and appeal of software private equity, with Hg reportedly paying 12x ARR for AuditBoard's $200 million+ ARR, following the Rule of ~60. This transaction marks a significant milestone for AuditBoard, founded by Daniel Kim and Jay Lee, and underscores the value of unconventional hiring practices, as noted by Battery Ventures.
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Full integration in all operations • 33%
Partial integration in some operations • 33%
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Decrease by more than 10% • 25%
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Partial integration • 33%
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