“Yesterday we were AuditBoard. Today we are Optro.”
That message posted on LinkedIn Monday morning introduced Optro, formerly known as AuditBoard. The official announcement from the Cerritos, CA-based company took place earlier today at the Institute of Internal Auditors’ Great Audit Minds conference in Las Vegas.
The LinkedIn post states:
Since our founding [in 2014], the industry has transformed. AI is reshaping how work gets done. Risk moves faster. Expectations are higher. The way organizations manage audit, risk, infosec, and compliance has fundamentally evolved—and so have we.
It was time for our name to reflect the ambition of our customers and the platform we’ve built.
Optro represents what we now enable: a unified, intelligent system of action delivering a single, coherent view across audit, risk, infosec, and compliance.
While our name has evolved, our foundation remains stronger than ever. This decision—like every decision we make—was driven by our customers. Our commitment to them and to our partners around the globe is unwavering.
Optro is a cloud-based audit, risk, and compliance management platform that is used by more than half of the Fortune 500. The company says its platform is built for the future of governance, risk, and compliance, moving beyond reactive risk management toward proactive risk foresight enabled by agentic AI and orchestrated by GRC practitioners.
“Optro empowers teams to leverage best-in-class enterprise AI for GRC to transform risk into opportunity: continuously, accountably, and securely,” the company said in a media release on March 9.
What began as a dedicated tool for Sarbanes-Oxley Act compliance has grown into a robust platform prepared for the agentic future of risk management across disciplines, Optro CEO Raul Villar Jr. wrote in a blog post on Monday.
“From internal audit and cybersecurity to third-party risk and AI governance, our name now conveys the scale of enterprise risk we help solve for today,” Villar Jr. wrote.
“This evolution reflects more than a new name,” he added. “It represents the work we’ve done with our customers and partners to create an enterprise-grade, agentic system of action for modern risk practitioners. As we start this next chapter as Optro, our DNA and commitment to our amazing customer community remain the same.”
This is the second time the company has rebranded. Optro started out as SOXHUB, an internal audit software platform with a flagship solution for internal controls and SOX compliance. SOXHUB changed its name to AuditBoard in November 2017 and advanced to a fully integrated GRC platform.
Richard Chambers, former IIA president and CEO who is now senior advisor of risk and audit for Optro, said in a statement that “Optro symbolizes the words that have always inspired GRC professionals: opportunity, optimizing, and optical.”
He wrote in a post on LinkedIn that today is an exciting day for the future direction of the company.
“This is a bold and decisive change that reflects the company’s vision of transforming risk into opportunity,” Chambers wrote.
“AuditBoard was founded by internal auditors for internal auditors, but just as the profession has elevated effective risk management in the 21st century, the solutions we offer have become essential resources for more than internal auditors. We didn’t outgrow internal audit; instead, we mirrored the evolution of the profession itself: to serve GRC teams across the three lines.
“Optro reflects what our platform now enables: a single, coherent view across audit, risk, and compliance, where issues surface earlier, connections become visible, and decisions are grounded in truth.”
Optro recently announced its acquisition of FairNow, a purpose-built AI governance solution, enhancing Optro’s capabilities with intelligent, automated, and step-by-step AI compliance guidance. The company has also made a string of strategic executive appointments over the past year, including Villar Jr. as CEO, CFO Hugo Doetsch, Chief Growth Officer Jim Sperduto, and Chief Human Resources Officer Paaras Parker.
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“For the past decade, we have been synonymous with helping our customers see risk before it happens. As the industry enters the age of AI, where risk runs at machine speed, our mission has expanded,” April Crichlow, chief marketing officer at Optro, said in a statement. “Today, we introduce Optro, a brand that captures our commitment to the future of GRC. This evolution reflects our mission to help customers spot risk and turn it into opportunity with unprecedented pace and precision.”
More information about Optro can be found here.
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