With many enterprises still using Excel to track the data produced by internal control, audit, and risk management activities, a cloud-based solution to perform the task has a chance to be a game changer.
Enter AuditBoard, a Los Angeles-based startup that enables CFOs to create an out-of-the-box system of record for a company’s internal audit, compliance, and risk teams. (A screenshot from one of AuditBoard’s products appears below.)
On Wednesday, the company received $40 million in funding in a Series B round, led by stalwart venture capital firm Battery Ventures, which has invested in more than 400 companies.
“With more CFOs now turning to dedicated, cloud-based software tools for various tasks, from ERP to tax compliance to procurement, we see a big opportunity…
