**TLDR**
– AuditBoard, a risk management software provider, has reached $200 million in annual recurring revenue.
– The company primarily serves auditors and helps organizations effectively manage risk.
AuditBoard, a VC-backed risk management software provider, has achieved annual recurring revenue of $200 million, according to exclusive information obtained by Fortune. The company, which is based in Southern California, has primarily grown organically by serving the underserved and underappreciated auditor market. AuditBoard helps organizations manage risk in an increasingly risky environment, addressing concerns such as new technologies and vendor risks. The company’s success can be attributed to its unique approach to risk management, which involves creating a centralized database where all risks are connected and managed from one source of truth. AuditBoard’s total addressable market is estimated to be around $20 billion. While an IPO is a possibility for the future, the company is currently self-sufficient and does not require additional capital for expansion.
AuditBoard is a VC-backed risk management software provider that’s been growing in recent years, and is now generating $200 million in annual recurring revenue, Fortune has exclusively learned. Based in Southern California, AuditBoard has grown primarily organically, as the company has thrived on serving an underserved (and under-loved) customer—the auditor. Simultaneously, an increasingly risky environment has worked in AuditBoard’s favor. We came off the pandemic and careened right into a world rife with risks, from geopolitics to the banking system. “What we fundamentally do is help people manage risk—and there’s no shortage of risk,” Arnold told me. “Whether it’s the impact of new technologies like AI or concerns with vendors, there are all sorts of different risks in an organization. If you can’t eliminate the risk, it’s about knowing what risks you’re taking and managing that effectively.”
