Avetta

Who owns Avetta?

Avetta is currently owned by EQT through EQT X (2023 vintage), since 2024. Across its history, Avetta has been through 2 private equity ownership periods, detailed in the timeline below.

Hand-verified · updated 2026-04-21

About Avetta

Avetta is a United States software company, headquartered in Lehi, Utah, whose cloud-based SaaS platform helps large organizations manage supply chain risk across their networks of suppliers, contractors and vendors. The Avetta One platform centralizes contractor prequalification, worker competency management, document and insurance verification, auditing, and monitoring of health, safety, sustainability, cybersecurity and ESG risk, supported by a generative AI risk assistant the company markets as AskAva. It operates a two-sided network model, connecting hiring clients with a vetted supplier base across industries including construction, energy, oil and gas, manufacturing, telecommunications and facilities management. Per company disclosures around its 2024 change of ownership, Avetta served more than 500 hiring clients and a contractor network numbering in the hundreds of thousands across more than 130 countries, run from roughly a dozen global offices with more than 750 employees.

Ownership journey

Avetta traces its origins to 2003, when it was founded as PICS Auditing before rebranding to Avetta and establishing its headquarters in Lehi, Utah. In 2024 the company changed hands in a secondary buyout, with Ardian, investing through Co-Investment Fund VI, and EQT, investing through the EQT X fund, acquiring the business together. Both sponsors remain active shareholders and the company is still listed among their current holdings, with no subsequent exit or secondary transaction recorded. The 2024 transaction was framed by management and the sponsors as a growth partnership rather than a restructuring, positioned to accelerate product development and international reach.

Under PE ownership

Since the 2024 investment, the stated priorities have been expanding Avetta's product suite, deepening adoption of AI and automation, and extending its global footprint. The company has continued to build out the Avetta One platform beyond core prequalification into broader supplier risk domains such as cybersecurity, sustainability and ESG compliance, and has invested in its AskAva generative AI risk assistant to surface supplier risk insights for clients. Management has publicly described the ownership change as propelling the business into a new phase of innovation and growth, with the sponsors backing new products, technologies and geographic expansion. As a two-sided network serving more than 500 hiring clients and a large contractor base across 130-plus countries, Avetta's trajectory under the current owners centers on scaling that network and widening the platform's risk coverage.