- Leading privacy management solutions provider TrustArc announced it raised $70 million in Series D funding
TrustArc — a leading provider of privacy management solutions — announced it raised $70 million in Series D funding led by private equity firm Bregal Sagemount to advance the company’s position in the privacy market.
Existing investors Accel Partners, Baseline Ventures, DAG Ventures, Icon Ventures, and Industry Ventures will also continue to retain significant stakes in the business.
“We are very excited to bring on Sagemount as a strategic and financial partner. Given their prior success investing in market-leading, high-growth technology companies, we believe they are the right partner for the next phase of our growth,” said TrustArc CEO Chris Babel. “We have been building on our two decades of privacy leadership to design cutting edge technology solutions, and this significant growth investment will allow us to further help enterprises around the world navigate the rapidly evolving data privacy regulatory landscape.”
What does TrustArc do? The company is the leader in privacy compliance and data protection solutions and offers an unmatched combination of innovative technology and TRUSTe certification solutions. And TrustArc addresses all phases of privacy program management. And the company has delivered innovative privacy solutions for two decades to some of the world’s largest companies.
“TrustArc is at the center of the rapidly growing privacy tech market which is part of a larger wave of innovation transforming regulatory compliance,” explained Accel partner Andrew Braccia. “Together with Sagemount we look forward to working with TrustArc to further enhance its solutions and expand into new markets worldwide.”
Sagemount’s investment is being led by Daniel Kim (partner), Arjun Mehta (VP), and Will Breskman (Private Equity Associate).
“Companies are increasingly required to serve as fiduciaries of personal information. Their customers, supply chain partners, and vendors are more likely to provide such data to companies that have the policies and software to manage it properly,” added Bregal Sagemount partner Daniel Kim. “TrustArc’s privacy industry leadership has allowed it to build a unique suite of technology solutions to help companies differentiate themselves in today’s regulatory environment.”
TrustArc was advised by DBO Partners and Fenwick & West provided legal counsel. And Goodwin Procter provided legal counsel to Bregal Sagemount.
