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Thoma Bravo-Backed Riskonnect Acquires Aruvio

Riskonnect, a portfolio company of Thoma Bravo, has acquired Aruvio, a California-based provider of cloud-based governance, risk and compliance (GRC) solutions. Atlanta, GA-based Riskonnect, which calls itself the only provider of true Integrated Risk Management (IRM) Solutions, says the integration of Aruvio will help expand its market-leading platform at a crucial time when enterprises across various vertical markets are facing increased rules and regulations.

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“We understand enterprises need innovative solutions to minimize risk across their organizations,” stated Riskonnect’s Chief Executive Officer Jim Foster. “This acquisition enhances our customizable, integrated risk management offering and helps customers more easily manage the continued risk environments in which they operate.”

As the complexities of the global regulatory environment grow, Gartner research estimates the IRM market to boom at a 13.4% compound annual growth rate to surpass $7.3 billion by 2020. Between 2015 to 2016, Gartner’s John Wheeler estimates the market boomed 17%.

Ten-year-old Riskonnect develops and markets a suite of technology solutions on a cloud computing model, helping customers improve their risk management programs and safety solutions across the enterprise. Its clients include over 60,000 businesses which run over 100,000 applications used by more than 1.5 million users every day.

In June 2017, Chicago-based private equity investment firm Thoma Bravo announced its strategic growth investment in Riskonnect in efforts to boost its exposure to the high growth IRM technology space. Over the past three decades plus, Thoma Bravo and its predecessor firms have applied a “consolidation” or “buy and build” investment strategy across various industries, representing billions of dollars in committed capital. The firm is known for its investment experience in software and technology enabled services sectors.

“Thoma Bravo was focused on investing in a best-in-class risk management and GRC platform,” said Thoma Bravo Partner Hudson Smith. “This acquisition helps Riskonnect accelerate its product roadmap, while providing enterprises with solutions they need to make decisions across traditional risk management, governance, risk and compliance areas.”

Financial terms of the deal were not disclosed.