Former CEO of AppSense, MarketTools, and Borland Software joins AuditBoard to help drive continued rapid growth and scale.
LOS ANGELES – July 9, 2020 – AuditBoard, a leading cloud-based software platform for automating and transforming the way enterprises handle critical risk, audit, and compliance work, today announced the appointment of Scott Arnold as President and CEO to prepare the company for its next phase of innovation and growth. AuditBoard is coming off of a period of record revenue and recent recognition by Deloitte as the 3rd fastest-growing technology company in North America. The company now serves nearly 25% of the Fortune 500, including 5 of the Fortune 10. AuditBoard’s solutions continue to earn the industry’s highest marks from both Gartner Peer Insights and G2, receiving the G2 Leader Award for the third consecutive time in the recent Summer Grid report.
“Demand has been very strong through the pandemic and we’ve been adding new customers at a pace beyond pre-COVID estimates,” said Daniel Kim, AuditBoard co-founder. “We need to continue expanding our leadership and team to meet market demand and scale the business. We’re excited to bring on Scott to help us navigate the next phases of our rapid growth plan. His proven track record and leadership experience in SaaS and enterprise software is exactly what we were looking for at this stage of our trajectory.”
“Daniel and I are thrilled to welcome Scott to AuditBoard,” said Jay Lee, AuditBoard co-founder. “We have tremendous market momentum right now, and have grown faster than Daniel and I ever imagined. With his extensive experience leading mature software businesses, Scott is the right person to lead AuditBoard. His enterprise software know-how and proven strategy and leadership skills will benefit the company greatly as we continue to innovate and expand to new segments.”
Arnold is an industry veteran with a track record of successfully leading private and public software companies through multiple stages of growth. He was most recently President, Shutterfly Enterprise where he grew the business by roughly $100 million in revenue. Prior to joining Shutterfly Enterprise, Arnold served as President and CEO of AppSense, leading that enterprise software provider through a successful exit to a large strategic partner. Prior to AppSense, Arnold served in CEO and COO roles at MarketTools and Borland Software, both leading enterprise software organizations. Arnold began his professional career at McKinsey where he spent 13 years working with some of the world’s largest technology clients and helped build the firm’s practice in Silicon Valley.
Arnold holds an MBA from the Stanford Graduate School of Business and a degree in Electrical Engineering from Duke University. He currently serves on the Board of Directors of CalAmp as well as on Duke’s Pratt School of Engineering Board of Visitors.
“AuditBoard is well-positioned in a large market, providing unique technology and a customer experience that is the best in the industry,” said new President and CEO Arnold. “Daniel and Jay have created a remarkable set of products and a special company. I’m impressed by the talented AuditBoard team, their maniacal customer focus, and the strong future vision. I’m honored to lead the organization as we together deliver ever-increasing value to our customers.”
AuditBoard was founded by childhood friends and former auditors, Daniel Kim and Jay Lee in 2014 with the vision of transforming the audit, risk, and compliance technology landscape, helping enterprise teams modernize their practices. Under the leadership of Kim and Lee, the company has quickly become one of the fastest-growing technology companies in the world, outpacing the growth of all software providers in the GRC technology market. Last year they were recognized as EY Entrepreneurs of the Year. With the addition of Arnold, Kim and Lee will continue as co-Chairs of the Board and continue to play instrumental advisory roles in charting the strategy and growth of the company.
“We are big believers in the vision of AuditBoard and the unique products the company has developed to go after the $7 billion opportunity in integrated risk management technology,” said Michael Brown, general partner at Battery Ventures and lead investor in AuditBoard. “AuditBoard’s market traction and recent growth, despite the broader economic disruption this year, are exciting. We are impressed with what Daniel, Jay, and the team have accomplished so far and feel the addition of Scott will take the company through its next phase of growth as it scales.”
Gartner estimates global spending on Integrated Risk Management solutions in 2020 to be $7.3 billion.
About AuditBoard
AuditBoard is the leading cloud-based platform transforming how enterprises manage risk. Its integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, controls management, risk management, and workflow management. AuditBoard’s clients range from prominent pre-IPO to Fortune 50 companies looking to modernize, simplify, and elevate their functions. AuditBoard is the top-rated audit management software on G2, and was recently ranked as the third fastest-growing technology company in North America by Deloitte. For more information: www.auditboard.com.
