- OneTrust – one of the most widely used privacy, security, and data governance technology platform – announced a $300 million Series C funding round at a $5.1 billion valuation.
OneTrust – one of the most widely used privacy, security, and data governance technology platform – announced a $300 million Series C funding round. TCV had signed on as a new investor and led the round. And they were joined by OneTrust’s existing investors, including Insight Partners and Coatue.
This round of funding values OneTrust at $5.1 billion. And it brings the company’s total funding raised in the last 18 months to $710 million.
How does OneTrust work? OneTrust’s technology enables strong privacy, security, data governance, and ethics and compliance practices that underpin their digital transformation. And as organizations strive for increasing levels of efficiency and agility in their transformation journey, they are looking for a platform approach to managing privacy, security, and governance requirements across an increasingly complex regulatory environment.
OneTrust pioneered a true platform approach to trust with its modular products that are built on a single code-base and have been awarded 130 patents. Since the company was founded in 2016, OneTrust has grown to the largest and most widely used privacy, security, and governance technology.
KEY QUOTES:
“Our mission is to build the technology platform that creates the trust fabric of an organization, while addressing the hundreds of privacy, security, and compliance requirements they are faced with today. We were excited when TCV approached us for an investment. Even with most of our previously raised funds still available, their partnership allows us to further accelerate our mission, leverage our capital and currency to drive organic and inorganic growth, and deliver for our customers and partners long term.”
— Kabir Barday, OneTrust CEO and Fellow of Information Privacy
“Consumers and regulators are demanding that every company on the planet comply with complex and ever evolving privacy regulations. There are hundreds of regulatory initiatives in the works emanating from all major countries. OneTrust has emerged as the runaway SaaS leader in the trust and privacy arena. Kabir and his team have built the only truly global privacy platform allowing companies at any stage or size to own their privacy initiatives and remain compliant. TCV is honored to partner with such a rapidly growing and category-defining company led by an outstanding team of innovators.”
— Tim McAdam, General Partner at TCV
“OneTrust is leading the market outright and showing no signs of slowing down or stopping.”
— Ryan O’Leary, senior research analyst, Legal, Risk, and Compliance at IDC in the report “Market Share Worldwide Data Privacy Management Software Market Shares, 2019: OneTrust Dominates the Competition.
