Optro

About Optro

Financials

Dated, source-cited figures. Estimates are marked.

Competitive Landscape

Who Optro competes with, and how they differ.

D

Diligent Corporation8.0/10

Diligent's Diligent One platform (built on the Galvanize/HighBond audit-management suite it acquired) targets the same enterprise internal-audit and SOX-compliance buyers as AuditBoard, but bundles in board-governance software (Diligent Boards) that AuditBoard does not offer.

1 product reviewed on TopReviewed

Workiva7.5/10

Workiva competes for the same SOX-controls and audit-reporting workflows, but is built around a financial and ESG reporting engine used for SEC filings and XBRL tagging — a use case AuditBoard does not address.

1 product reviewed on TopReviewed

MetricStream7.2/10

MetricStream targets larger, more heavily regulated enterprises (banking, life sciences) with a broader, more configurable GRC suite than AuditBoard, at the cost of a longer implementation cycle.

1 product reviewed on TopReviewed

LogicGate6.6/10

LogicGate's Risk Cloud is a no-code GRC workflow builder aimed at mid-market risk teams who configure their own processes, versus AuditBoard's more prescriptive, audit-practitioner-built modules.

1 product reviewed on TopReviewed

W

Wolters Kluwer TeamMate+

TeamMate+ is AuditBoard's longest-standing head-to-head rival in pure internal-audit workpaper management, sold as part of Wolters Kluwer's larger tax-and-accounting software portfolio rather than as a standalone risk platform.

Company Timeline

Key milestones in Optro's history, with sources.

1. Mar 9, 2026Milestone

   Rebranded from AuditBoard to Optro

   AuditBoard rebranded as Optro at the Institute of Internal Auditors Great Audit Minds conference in Las Vegas — its second name change, after the 2017 SOXHUB-to-AuditBoard rename.

   cpapracticeadvisor.com
2. Oct 22, 2025Acquisition

   Acquired FairNow, an AI-governance platform

   AuditBoard signed a definitive agreement to acquire FairNow, an AI-governance platform, adding an AI-risk registry and automated compliance tooling to its GRC suite; financial terms were not disclosed.

   cpapracticeadvisor.com
3. Jul 1, 2025Milestone

   Raul Villar Jr. named CEO, succeeding Scott Arnold

   Former Paycor CEO Raul Villar Jr. was appointed AuditBoard's CEO in a planned leadership transition from Scott Arnold.

   cpapracticeadvisor.com
4. May 23, 2024Acquisition

   Acquired by Hg for over $3 billion

   UK private-equity firm Hg agreed to acquire AuditBoard from Battery Ventures, Act One Ventures, Mucker Capital, and Wavemaker Partners in a transaction valued at over $3 billion, one of the largest venture-backed software exits of 2024.

   securityweek.com
5. Aug 15, 2018Funding

   Series B — $40M led by Battery Ventures

   AuditBoard raised a $40 million Series B led by Battery Ventures; Battery general partner Michael Brown joined the board of directors.

   venturebeat.com
6. November 2017Milestone

   SOXHUB renamed to AuditBoard

   The company renamed itself from SOXHUB to AuditBoard as it expanded from SOX-compliance software into a broader audit, risk, and compliance platform.

   cpapracticeadvisor.com
7. March 2016Funding

   Seed round led by Act One Ventures

   Act One Ventures led AuditBoard's seed round, partnering with founders Daniel Kim and Jay Lee; the total round size was not independently disclosed.

   actoneventures.com
8. 2014Founded

   Founded as SOXHUB by Daniel Kim and Jay Lee

   Daniel Kim, a former internal-audit lead, and childhood friend Jay Lee founded the company in Cerritos, California, initially as SOXHUB, a tool for managing Sarbanes-Oxley compliance.

   venturebeat.com