Riskonnect

Riskonnect was founded in Atlanta in July 2007 by Bob Morrell, Antonio Dabraio, and Roger Dunkin. Morrell had previously co-founded Risk Laboratories while a student at Georgia Tech. The company's founding bet was that building exclusively on Salesforce's Force.com platform would let it move faster on enterprise workflow and reporting than the legacy RMIS vendors — a structural choice that shaped both its strengths and its constraints for the next two decades.

Ownership history. Thoma Bravo completed its acquisition of Riskonnect through its Discover Fund on June 30, 2017. The three founders retained a significant minority stake; Jim Foster, the COO, became CEO, and Bob Morrell moved to a board advisory role. Under Thoma Bravo's nearly four years of majority ownership, Riskonnect delivered 425% ARR growth and 365% billing growth, and grew from roughly 250 enterprise customers to over 950. In November 2021, TA Associates announced a new majority growth investment. Thoma Bravo retained a significant equity stake — both firms remain invested. No acquisition price was disclosed at either transaction.

What Riskonnect does. The platform organizes enterprise risk across three pillars. Insurable Risk covers the traditional RMIS — the system a risk manager uses to track exposures, losses, claims, certificates of insurance, and policy data — plus claims administration, policy billing, and health and safety. GRC covers enterprise risk management, compliance, policy management, internal audit, IT risk, third-party risk, ESG, AI governance, and project risk. Business Continuity covers BCM planning, operational resilience, crisis management, and threat intelligence. All three pillars share one data model, which is the central product argument: a loss in claims feeds directly into ERM without an ETL job.

Acquisitions. Riskonnect has made at least eight acquisitions since the 2017 Thoma Bravo investment. Marsh ClearSight (October 2018) was the risk, safety, and claims software unit of Marsh — a deal that roughly doubled the customer base and brought deep RMIS data and claims-handling capabilities. Xactium (March 2020) added financial-services GRC and AI/analytics for risk and audit, and brought more than 60 UK-based clients. ICIX (October 2021) added supply-chain risk and compliance. Sword GRC (closed April 2022) — a UK-based project and enterprise risk platform acquired from Sword Group — strengthened Riskonnect's position in aerospace and defense, energy, and government. Castellan (July 2022) was a global provider of business continuity, operational resilience, and crisis management software and services with 750+ customers in 30+ countries, previously owned by Resurgens Technology Partners. Ventiv Technology (January 2024) was a direct RMIS and claims competitor also headquartered in Atlanta; the combined entity passed 2,500 customers. Camms (June 2024) added cloud GRC with particular strength in Australia, New Zealand, and Asia Pacific.

Current CEO and platform. Jim Wetekamp is CEO. The platform was described in the 2025 Verdantix Green Quadrant RMIS report as offering "a strategic RMIS solution for complex enterprises requiring predictive claims and legal risk control." Verdantix placed Riskonnect in the Leaders quadrant alongside Origami Risk and Aclaimant.

Named customers. Publicly named customers include IHG Hotels & Resorts, The Wendy's Company, BT Group, Transport for London, the US Army, Randstad, and RELX. Industries served include healthcare, energy and mining, retail, manufacturing, financial services, telecommunications, public sector, transportation, and aerospace and defense.

Head-to-head with Origami Risk. Both vendors cover RMIS, claims administration, GRC, and health and safety in a unified cloud platform. Origami Risk (founded 2009, Chicago) has historically positioned stronger in the TPA, self-insured captive, and specialty-carrier market; Riskonnect's acquisition program has positioned it broader by geography (now global across six continents) and by module depth (Castellan adds resilience consulting services, Camms adds APAC GRC). Origami is also named a Leader in the Verdantix 2025 RMIS Green Quadrant. The two vendors compete for the same large-enterprise risk department budget, and migrations between them are documented but uncommon — RMIS replacement is a multi-year undertaking.

What it does not do. Riskonnect is not a balance-sheet carrier. It does not hold or transfer insurance risk. It is not a policy administration system for underwriters (that is Guidewire, Duck Creek, Majesco). It is not positioned for small or mid-market buyers without a dedicated risk management function. The platform's complexity is calibrated for enterprises with existing risk data governance; buyers without that foundation typically struggle with onboarding timelines.