As AuditBoard’s Chief Customer Officer, I’m thrilled that AuditBoard’s recent acquisition by Hg has officially been finalized, marking a significant milestone for the company and our customers. This strategic move is not only a testament to our exceptional growth but also a reflection of our unwavering commitment to our cherished customers. Our valuation of over $3 billion validates our market-leading growth, trajectory, and customer-centric approach, something our clients — including six of the top ten and nearly 50% of the Fortune 500 — can attest to.
We are deeply grateful for the trust and partnership you have shown us over the last decade. This new chapter empowers AuditBoard to enhance our services and deliver an even more exceptional experience to our users. Rest assured, we remain dedicated to providing the same incredible level of service you have come to expect, now with the added strength and resources this acquisition brings — access to additional expertise, capital, and global partners without losing our independence or subjecting the business to the near-term pressures of Wall Street that can come as a result of going public. Most importantly, however, this path ensures that we can stay 100% focused on executing upon our Connected Risk vision to benefit our customers.
Never have I been more thankful for the privilege of working with such an exceptionally talented group of colleagues and serving such a collaborative and innovative group of clients. Below, I will outline some of the upcoming changes for our customers and address some frequently asked questions to ensure you have all the information you need moving forward.
What changes for existing customers?
This change in ownership will have no impact on the service or support customers receive today. AuditBoard will remain an independent company run by the same, talented team our customers work with today.
Do we need to re-sign anything due to the acquisition?
Since AuditBoard will survive the merger and remain an independent company, we do not believe you will need to sign any new paperwork at this time. There may be a few unique cases where customers may need a change and AuditBoard will follow up with them directly at the right time.
Are there changes to payment arrangements or W9 and ACH accounts?
No. Your payment arrangements will remain the same, with no changes planned.
Will there be a name change?
No. AuditBoard will continue as an independent company and there are no plans to change the company’s name.
Who is Hg?
Before we started engaging with investors, we determined we would only partner with a firm that met the following five criteria:
- A deep commitment to customers and delivering true customer value.
- Shared our Connected Risk vision.
- Supported the continued rapid growth plans of AuditBoard.
- Supported continued investment and development of the AuditBoard team, including resources to add new capabilities and drive continued product innovation.
- Brought unique expertise that would enhance our ability to support customers in new geographies.
Hg checks all of these boxes, and as a tech investor with a strong European heritage and scaled presence across North America, will help us accelerate both new innovation and global expansion. With a successful track record spanning two decades, Hg is poised to leverage its resources and insights to support AuditBoard’s continued expansion and innovation. They are absolutely thrilled to be a part of what we’re doing here and contribute to greater success ahead.
If you have any further questions, please don’t hesitate to reach out to your customer success representative. We’re grateful for your continued partnership as we strive to deliver ever more value for you and your organizations in the years to come.
Chris Doell is AuditBoard’s Chief Customer Officer. He has an extensive background in helping customers maximize the value of their products at scale, having most recently served as Head of Global Customer Success for Cisco’sCloud Security division, where he scaled the team from 20 to 200+ as revenue grew from $30M to over $400M. Prior to joining Cisco as part of its acquisition of OpenDNS, Chris led the global customer success team at Zenprise, helping that organization scale from early stage to over 1500 enterprise customers and acquisition by Citrix. Connect with Chris on LinkedIn.
