Atlanta-Based OneTrust raises $300 million Series C funding for its privacy management platform; doubles its valuation to $5.1 billion
Back in February, we wrote about the Atlanta-Based OneTrust after the privacy management startup raised $210M Series B funding. Back then, the funding more than doubled its previous valuation to $2.7 billion. With organizations under increasing pressure due to global privacy regulations like the California Consumer Privacy Act (CCPA), the EU’s GDPR, and Brazil’s LGPD, OneTrust has seen an increase in demand for its privacy, security, and third-party risk technology platform. Creating privacy programs that responsibly use data while fulfilling global regulation requirements is a key priority for companies across the globe.
Today, OneTrust announced it has raised a $300 million Series C funding round. The round, which now values OneTrust at $5.1 billion, brings the company’s total money raised in the last 18 months to $710 million. TCV signed on as a new investor and led the round, joined by OneTrust’s existing investors, including Insight Partners and Coatue.
Founded in 2016, the Atlanta, Georgia-based OneTrust automates privacy impact assessments and data inventory mapping, enforces risk remediation actions, and triggers recurring audits for continuous compliance monitoring across customer, employee, and vendor data transfers. The company’s web-based software can be accessed on any device and provides a single place for a private office to collaborate with business groups, vendors, and trusted advisors managing privacy risks. OneTrust has 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
OneTrust’s technology sits as the epicenter of trust for organizations, enabling strong privacy, security, data governance, and ethics and compliance practices that underpin their digital transformation. 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.
Today, 7,500 organizations, including more than half of the Fortune 500, use OneTrust’s technology to comply with the world’s privacy, security, and compliance requirements, including GDPR, CCPA, LGPD, ISO 27001, NIST, DOJ Guidelines, and hundreds of other laws and frameworks. The list of regulations an organization must comply with continues to rise. In 2020, sweeping privacy laws came into effect in California, Brazil, and others, and Gartner predicts 65% of the world’s population will be covered under modern privacy regulations by 2023, compared to just 10% today.