Snapsheet vs AuditBoard
Side-by-side comparison of AI visibility scores, market position, and capabilities
$103M funding ($5M 2023 State Farm); profitable 2023; 4.3M claims/year; $15.3B indemnity processed; 15 of top 20 US P&C insurers; CNBC Top Fintech 2025; claims management leader
About
Snapsheet is a virtual appraisal and claims management platform founded in 2011 and headquartered in Chicago, Illinois, purpose-built to digitize the auto insurance claims process. The company was founded on the insight that physical appraisals — the dominant model at the time — were slow, expensive, and unnecessary for the majority of auto damage claims. Snapsheet's technology enables policyholders to submit vehicle damage photos through a mobile app, which are then reviewed by appraisers remotely, compressing cycle times dramatically and reducing the friction of the traditional claims experience.\n\nSnapsheet's platform covers the full claims workflow: first notice of loss, digital appraisals, repair estimate management, total loss processing, and payment disbursement. The company also offers a configurable Claims Management System (CMS) that allows insurers to orchestrate the entire claims lifecycle through a single platform. Snapsheet is deeply embedded in the US property and casualty insurance market, with 15 of the top 20 US P&C insurers as customers. The platform processes approximately 4.3 million claims per year and has handled over $15.3 billion in indemnity payments.\n\nSnapsheet achieved profitability in 2023, a notable milestone in a vertical where many insurtech companies have struggled to reach unit economics viability. The company has raised $103 million in total funding and operates at scale with a customer base that spans national carriers, regional insurers, and third-party administrators. Its combination of deep carrier relationships, proven claims volume, and profitable operations positions Snapsheet as a durable infrastructure layer in the US insurance claims ecosystem.
$300M+ ARR Oct 2025 (from $200M Feb 2024); 2,000+ enterprises including 50% Fortune 500; $3B acquisition by Hg May 2024; Gartner Leader 2025 Magic Quadrant for GRC Tools
About
AuditBoard is a cloud-based audit, risk, and compliance management platform founded in 2014 in Los Angeles by Scott Arnold and Bidhan Roy. The company was built on the insight that enterprise audit and compliance teams were stuck managing complex programs in spreadsheets and email, creating inefficiency and risk. AuditBoard's core technology centralizes internal audit, SOX compliance, enterprise risk, and ESG reporting into a unified platform with workflow automation, real-time dashboards, and cross-functional collaboration tools.\n\nThe platform serves over 2,000 enterprises, including more than half of the Fortune 500, making it the market's most widely adopted audit management solution. AuditBoard's product suite covers internal audit management, SOX compliance, operational risk management, vendor risk, and ESG reporting — addressing the full governance, risk, and compliance lifecycle in one integrated environment. Gartner named AuditBoard a Leader in its 2025 Magic Quadrant for Audit Management, reflecting its consistent product execution and customer satisfaction.\n\nAuditBoard crossed $300M in ARR in October 2025, a milestone that cemented its position as one of the largest GRC software companies in the world. In May 2024 the company was acquired by British private equity firm Hg for $3B, providing capital and operational expertise to accelerate its global expansion. As regulatory demands intensify and boards increase scrutiny of risk functions, AuditBoard's comprehensive platform and Fortune 500 penetration give it a commanding position in the fast-growing GRC software market.
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