Protecht Group Holdings Pty Ltd, an Australia-based provider of enterprise risk management software and services, announced that it has secured an A$42 million ($30.13 million) investment from Arrowroot Capital to accelerate its product and growth strategies.

The Series A investment will enable it 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 Protecht’s continued global expansion, Protecht said in a statement.

“Protecht is 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. By partnering with Arrowroot Capital – a leading investor in business to business (B2B) software solutions based in California – 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.” said David Bergmark, Co-Founder and Chief Executive Officer of Protecht.

Protecht has been redefining the way the world thinks about risk with the most complete, cutting-edge, and cost-effective software as a service (SaaS) solutions in the governance, risk and. compliance (GRC) market. Based in Sydney, Australia and founded in 1999, the business provides world-class risk management services to over 300 clients across the Asia Pacific (APAC), Europe, Middle East, and Africa (EMEA), and North America regions.

With ever increasing risk, regulatory, and compliance pressures, 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 and compliance management software (Protecht.ERM), training and advisory services to Financial Services, Government including key regulators, tertiary education, and businesses of all sizes across a wide range of industries globally.

“At Protecht we are incredibly passionate about risk management and truly believe good risk management enables organisations to achieve and exceed their strategic objectives more consistently.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 vigour,” said David Tattam, Co-Founder and Chief Research and Content Officer of Protecht.

Meanwhile, Matt Klein, Principal at Arrowroot Capital said : “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. 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.”

Arrowroot Capital is a global growth equity firm based in Los Angeles, Californai and Miami, focused on minority, majority, and buyout investments in B2B software companies. The firm serves as a catalyst for growth-related initiatives by partnering with management and leveraging its deep enterprise software expertise to deliver meaningful, tangible value. Arrowroot has the flexibility to pursue opportunities of varying sizes, as well as a broad range of transaction types. It also assists in targeting and executing add-on acquisitions for its portfolio companies to help drive growth and increased market position.

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