With $40 million for AuditBoard’s risk and compliance toolkit, LA’s enterprise startups notch another win – TechCrunch

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Daniel Kim and Jay Lee, the two founders of AuditBoard, a Los Angeles-based provider of a risk and compliance software service for large businesses, grew up middle school friends in Cerritos, Calif.

It was from their hometown Los Angeles exurb, that Kim and Lee first began plotting how they would turn their experience working for PriceWaterhouseCoopers and Ernst & Young (respectively) into the software business that just managed to rake in $40 million in financing led by one of venture capital’s most-respected firms, Battery Ventures.

Kim, who had moved on from the world of the big four audit firms to take positions as the head of global audit at companies as diverse as the chip component manufacturer, International Rectifier and the surf and sportswear-focused clothing…

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