Arrowroot Capital has invested in Sydney, Australia-based Protecht, a provider of SaaS solutions in the governance, risk and compliance market. No financial terms were disclosed. D.A. Davidson & Co was financial advisor to Protecht on the transaction.
D.A. Davidson & Co. announced today that it has served as exclusive financial advisor to Protecht, in securing a significant growth equity investment from Arrowroot Capital, a leading investor in B2B software solutions.
Protecht has been redefining the way the world thinks about risk management with the most complete, cutting-edge, and cost-effective SaaS solution in the governance, risk and compliance (GRC) market. Based in Sydney, Australia and founded in 1998, the business has been providing world-class service to over 300 clients across the APAC, EMEA, and North America regions.
With ever increasing regulatory and compliance concerns, Protecht helps companies increase performance and achieve strategic objectives through better understanding, monitoring and management of risk. It provides the complete risk solution, comprised of world-class enterprise risk management (Protecht.ERM), compliance, training and advisory services to large government organizations, key regulators and businesses of all sizes across the world.
“Protecht is both 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,” said David Bergmark, co-founder and CEO of Protecht. “D.A. Davidson’s team played a critical role in advising us through this process. By identifying the partnership with Arrowroot Capital, 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.”
The Series A investment will enable Protecht to execute on its key growth initiatives – accelerate the delivery of new and exciting features in its products, maintain and expand a high level of service to its customers and acquire additional resources to support the company’s continued global expansion.
“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,” said David Tattam, co-founder and chief research & content officer of Protecht. “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 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,” says Matt Klein, principal at Arrowroot Capital. “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.”
“David Bergmark, David Tattam and their team have accomplished so much over the years, developing an impressive solution that has helped hundreds of customers move away from spreadsheets and email to a more efficient and effective way to manage risk,” said Greg Thomas, managing director within D.A. Davidson’s Technology Investment Banking group. “Securing a growth equity partner with the expertise that Arrowroot Capital has will be critical for the company’s next stage of growth.”
The transaction represents another successful closing by D.A. Davidson’s technology investment banking group. D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions and technology.
Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.