Australian governance, risk, and compliance (GRC) software vendor Protecht has announced a US$280 million equity investment from PSG Equity.
Based in Australia, Protecht was founded in 1999 by David Bergmark and David Tattam and has offices in Sydney, Los Angeles and London. It lists the likes of the ASX, NIB, ASIC, Transurban and afterpay as customers.
The company's enterprise risk management software provides a more centralised alternative to spreadsheets for managing risk. It includes cyber and IT risk management solutions for providing visibility to information security risk owners, streamlining reporting to boards, executives and regulators, and demonstrating compliance with standards.
According to its website, the company’s partners include consulting firms, resellers, systems integrators and data providers. The website lists Australian multi cloud managed services provider Secure Collaboration among its partners.
PSG Equity is a growth equity firm specialising in partnerships with software and technology-enabled services companies. It has offices in Boston, Kansas City, London, Madrid, Paris and Tel-Aviv.
“We are embarking on the next phase of our growth alongside the PSG team, whose operational expertise and resources will help us scale globally,” stated Bergmark, who is Protecht’s CEO.
In an announcement about the deal, Tattam talked-up the proportion of global data under policy regulations.
PSG Equity managing director Adam Marcus touted forecasted growth in the global risk management market and described Protecht as a leader in the GRC software space.
“We believe Protecht is positioned to capitalise on this growing market, and we are excited to partner with the team to help drive the next phase of their global expansion and innovation,” Marcus stated.
Protecht’s financial advisor was AGC Partners and it was supported by Series A provider Arrowroot Capital. PSG was advised by legal counsels Baker & McKenzie and Weil, Gotshal & Manges.
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