Risk management software and services provider Protecht has secured a $30 million Series A funding round from Arrowroot Capital.
Founded in 1999, Sydney-based Protecht provides risk management services to more than 300 clients around the world. The injection of capital, $42 million in Australian dollars, is expected to help Protecht accelerate its product and growth strategies.
Protecht’s chief offerings include its popular enterprise risk and compliance management tool, Protecht.ERM, as well as training and advising to organizations across industries like financial services, government, education and more.
“At Protecht, we are incredibly passionate about risk management and truly believe good risk management enables organizations to achieve and exceed their strategic objectives more consistently,” David Tattam, co-founder and chief research and content officer at Protecht, said in a news release. “Our mission has always been and remains to change the way the world thinks about risk and deploy innovative risk management technology to support excellence in risk management. This funding and new partnership will allow us to continue this mission with added vigor.”
Protecht plans to use the Series A investment to execute several initiatives, including accelerating the delivery of new product features, as well as supporting continued global expansion.
“Protecht is thankful to the customers who have supported us over the past 20 years and all our staff who have helped make this a reality. We are excited to announce this next step in our company’s journey,” David Bergmark, co-founder and CEO of Protecht Group Holdings, said in the release. “By partnering with Arrowroot Capital – a leading investor in B2B software solutions based in California – we have found a team with a shared understanding of the importance of risk management while also providing complementary skills in supporting our growth to new markets and verticals.”
“Protecht has become a global leader in enterprise risk and compliance management software and is positioned well to help their customers navigate an increasingly complex risk and regulatory environment,” Arrowroot Principal Matt Klein said in the release. “Arrowroot considers ourselves lucky to have the opportunity to partner with the Protecht team, and we are looking forward to supporting the company’s continued growth and international expansion.”
D.A. Davidson & Co. acted as exclusive financial adviser to Protecht.
About Protecht Group
Headquartered in Sydney, Australia with offices in London and Santa Monica, Protecht provides enterprise risk management services to customers across a range of industries and verticals.
About Arrowroot Capital
Arrowroot Capital is a global equity firm based in Los Angeles, California and Miami, Florida focused on minority, majority and buyout investments in B2B software companies.