Attributes Revenue Growth to Strong Customer Satisfaction and Innovative Risk Management Technology
LOS ANGELES, CA — November 17, 2021 — AuditBoard, the leading cloud-based platform transforming audit, risk, and compliance management, today announced it has been named to the 2021 Deloitte Technology Fast 500™ list of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, for the third consecutive year due to the company’s strong and consistent revenue growth.
“We’re proud of this recognition from Deloitte, and are thrilled to see that our connected risk platform resonates so strongly with new and existing customers,” said AuditBoard’s President and CEO, Scott Arnold. “We are inspired by our customers and will continue to deliver on our mission to elevate audit, risk, and compliance professionals through innovative technology that delivers an unparalleled user experience.”
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, Vice Chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, Partner, Deloitte & Touche LLP and Industry Leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”
This year marks AuditBoard’s third year as a Technology Fast 500™ award winner. As AuditBoard continues to accelerate top-line growth, annual recurring revenue now stands on the brink of $100 million. Taking a different path in this time of giant capital raises, AuditBoard generates net positive cash flow in the midst of dramatic growth and has not sought new funding since a 2018 round led by Battery Ventures.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.