Riskonnect

Riskonnect operates as a provider of Integrated Risk Management (IRM) software solutions, established in 2007 by co-founders Bob Morrell, Antonio Dabraio, and Roger Dunkin. The company was founded with the objective of providing a comprehensive view of risk across an enterprise by leveraging a Platform-as-a-Service (PaaS) model, initially building on Salesforce's Force.com platform. Bob Morrell, a key figure in the company's inception, began his programming career at 15 and co-founded his first risk management software firm, Risk Laboratories, while a sophomore at Georgia Tech. This earlier venture was later divested and became part of Aon Corporation. His experience culminated in the creation of Riskonnect to address strategic and insurable risks through a cloud-based model.

The company's business model is centered on providing cloud-based, subscription software that enables organizations to anticipate, manage, and respond in real-time to strategic and operational risks. Riskonnect serves a global client base of over 2,500 customers across various industries, including healthcare, retail, manufacturing, and financial services. Revenue is generated through these software subscriptions, which offer a configurable and unified set of modules designed to reduce losses, control risk, and manage stakeholder relationships. A significant milestone in Riskonnect's history was its acquisition by private equity firm Thoma Bravo in 2017, a move intended to accelerate investment in its IRM platform and expand its footprint in Governance, Risk and Compliance (GRC) and Environmental, Health, and Safety (EHS). In 2021, TA Associates made a significant growth investment, with Thoma Bravo retaining a substantial ownership stake to further propel the company's growth. Riskonnect has also pursued an aggressive acquisition strategy, acquiring at least eight companies, including MarshClearSight (2018), Xactium (2020), Sword GRC (2022), Castellan Solutions (2022), Ventiv Technology (2024), and CAMMS (2024), to broaden its GRC, business continuity, and resilience capabilities.

Riskonnect’s core offering is a comprehensive IRM platform that consolidates insurable and non-insurable risks into a single, holistic view. The platform's features include claims administration, policy management, internal audit, compliance management, third-party risk management, and recently, AI Governance. It provides tools for creating risk registers, applying risk appetite levels, and linking risk management directly to business strategy. The system is designed to automate workflows, assessments, and alerts, and features customizable dashboards and reports for visualizing complex data. By integrating data from disparate sources, the software aims to provide a single source of truth for an organization's risk posture, helping to manage everything from regulatory compliance and ESG reporting to incident response and business continuity. This integrated approach helps clients break down internal silos between departments like finance, IT, legal, and HR, enabling a more collaborative risk management process.

Keywords: Integrated Risk Management, GRC, risk management software, enterprise risk management, compliance management, third-party risk management, business continuity, operational risk, strategic risk, vendor risk, policy management, internal audit software, claims administration, Thoma Bravo, TA Associates, Bob Morrell, ESG reporting, risk analytics, RMIS, governance software, regulatory compliance, crisis management, IT risk management, safety management, resilience solutions