TA Associates to Make Growth Investment in Riskonnect – the Leader in Integrated Risk Management
Thoma Bravo Plans to Maintain a Significant Ownership Stake. TA and Thoma Bravo to Work Together to Accelerate the Company's Integrated Risk Management Vision.
ATLANTA, BOSTON and SAN FRANCISCO - Riskonnect, the global leader in Integrated Risk Management technology, today announced a new investment by TA Associates, a leading global growth private equity firm with more than 40 years of experience investing in enterprise software companies. Riskonnect's current majority investor, Thoma Bravo, a leading software investment firm, plans to continue holding a significant equity investment in the company. The transaction is expected to be completed by the end of 2021, subject to customary closing conditions. Details of the transaction were not disclosed.
Riskonnect is the leading integrated risk management software solution provider. The company’s technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. Riskonnect orients the enterprise around risk to help leading organizations maximize their resilience.
“Now more than ever, companies are facing business-altering decisions and must manage risks holistically. We believe Riskonnect is well-positioned to meet the varied needs of companies across all industries with its comprehensive integrated risk management solutions,” said Harry Taylor, a Managing Director at TA. “We are thrilled to partner with the Riskonnect and Thoma Bravo teams as we build on Riskonnect’s impressive growth and industry leadership.”
“Riskonnect’s partnership with Thoma Bravo has been critical to the company’s growth, enabling us to strengthen our risk management platform and execute on our global growth strategy,” said Jim Wetekamp, CEO of Riskonnect. “Our continued partnership with Thoma Bravo and the addition of TA will further support our mission of supplying companies with best-in-class solutions to anticipate, manage and respond to strategic and operational risks.”
Unlocking Expanded Customer Value
Riskonnect is the largest RMIS solution provider in the market, with over 950 customers globally. During the nearly four years of Thoma Bravo's majority sponsorship, Riskonnect delivered strong organic innovation, capturing 365% growth in billings and 425% growth in ARR, and completed four acquisitions that significantly expanded the breadth and depth of its Integrated Risk Management solutions to support customers.
Notably, Riskonnect acquired Marsh ClearSight in late 2018, making its solution the most comprehensive, global integrated risk management suite on the market. The company also acquired Xactium, a UK-based GRC software provider in March 2020, to expand its risk intelligence and financial services expertise. In October 2021, the company acquired ICIX, a provider of leading solutions for ESG value chain governance.
“Riskonnect is empowering companies with mission-critical data and solutions to drive business over the long term. Over the last four years, the company has significantly expanded the platform, increased team size, extended global reach, and more than quadrupled revenue. We are proud to have turned these results into tangible investments for Riskonnect’s customers,” said Hudson Smith, a partner at Thoma Bravo. “Riskonnect has driven consistent profitable growth, and we believe the company is well positioned to accelerate its global expansion. We look forward to continuing to support Riskonnect as it enters this next phase of growth along with TA.”
In partnership with TA and Thoma Bravo, Riskonnect will further invest in its market-leading Integrated Risk Management solutions, expand its go-to-market programs, and continue adding complementary resources to support demand for its software platform. Riskonnect is hiring additional talent in engineering, product management, marketing, sales, and customer success. Today, the company has more than 550 team members around the world who have embraced remote and hybrid work models and are committed to ensuring Riskonnect continues to be a great place to work.
William Blair and UBS Investment Bank are serving as financial advisors to Thoma Bravo.
Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 950 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 525 risk management experts in the Americas, Europe, and Asia. To learn more, visit www.riskonnect.com.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $83 billion in assets under management as of June 30, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20-plus years, the firm has acquired more than 325 software and technology companies representing over $100 billion of value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit thomabravo.com.