Protecht secures $446m investment from US growth equity firm PSG
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The news: Australian software company Protecht Group has announced a USD280 million ($446 million) investment from US growth equity firm PSG Equity.
The context: Protecht — which has offices in Sydney, Los Angeles and London — provides AI-driven risk management solutions for organisations spanning government, financial services, education, and other industries.
What they said: "We are embarking on the next phase of our growth alongside the PSG team, whose operational expertise and resources will help us scale globally," said Protecht co-founder and CEO David Bergmark.
"Together, we share a vision to supercharge Protecht’s offering with AI, driving innovation and advancing the transformation of risk. With PSG's support, we are poised to enhance our offerings and provide great value to our clients, helping them navigate the complexities of today's regulatory landscape."
PSG managing director Adam Marcus said: "The global risk management market is projected to reach nearly USD22 billion by 2029, underscoring the immense need for innovative, and scalable solutions.
"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."
The source: Protecht media release
