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Tuesday, Nov 28, 2023

Silicon Beach Report Aug. 15: AuditBoard Nets $40 Million

Risk and compliance software company AuditBoard raises $40 million; Bird, Lime lead e-scooter protest in Santa Monica; Tinder sues parent company

AuditBoard Nets $40 Million

Cerritos-based AuditBoard Inc., maker of large business risk and compliance software announced Aug. 15 it raised $40 million in a series B funding round. The funding was donated entirely by Boston private equity firm Battery Ventures. Techcrunch reports AuditBoard will use the funds to expand its development efforts and marketing practices. Currently AuditBoard’s clientele includes TripAdvisor Inc., LuluLemon Athletica Inc., HD Supply Inc. and Spirit Airlines Inc., among others.

Bird, Lime Protest in Santa Monica

Electric Scooter distributor Bird Rides Inc. and its competitor Lime (run by Neutron Holdings Inc.) shut off all scooters in Santa Monica Aug. 14, Curbed Los Angeles reports. Called “a day without scooters,” the shutdown was temporary and aimed at the city’s efforts to limit the number of scooter permits and reports that Uber and Lyft are being given preferential treatment for their proposed pilot programs for e-bike and e-scooters in Santa Monica. Both Lime and Bird encouraged riders to lobby city hall to ensure the two scooter companies can continue to operate in the city.

Tinder Sues InterActiveCorp

Match Group dating app subsidiary Tinder Inc. has filed a lawsuit against parent company InterActiveCorp, alleging IAC purposefully undervalued the company to avoid proper payouts to executives. The Business Journal reports Tinder is asking for $2 billion in damages.

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