OneTrust has announced today that it has closed a $200 million Series A investment, led by Insight Partners.
OneTrust is a privacy, security and third-party risk technology platform that helps companies comply with global privacy and security laws including CCPA and GDPR.
Today, OneTrust announced it had raised $200 million in Series A funding round, valuing the company at $1.3 billion. This milestone comes as CCPA preparations and GDPR activity take up headline space this week.
Kabir Barday, CEO and Fellow of Information Privacy (FIP), OneTrust said:
“We are excited for what this means for our partnership with our customers, and for the visibility this brings to the privacy industry overall. This funding will enable us to continue to work with our customers collaboratively to invest in the product, support, and the ecosystem in big ways to make sure we are doing everything we can to be the best long term partner for your team.”
Since it’s launch in 2016, the company has scaled to serve more than 3,000 customers across 100 countries with 1,000 employees, and includes Oracle and 21st Century Fox among its clients.
Following Marriott International’s data breach last year, the hotel giant has enlisted OneTrust to launch a tool that could allow customers to determine whether their data had been compromised during the breach.
“It’s been an exciting three years at OneTrust with our customers partnering with us to define and build the most widely used technology platform in a completely new market,” said Barday.
The company offers a range of technology and services covering data protection and privacy management, including a self-assessment tool that allows companies to work out where they stand regarding compliance with Privacy Shield, GDPR and more.
“New privacy regulations, like the California Consumer Privacy Act and GDPR, are a direct market reaction to consumer demand for improved data privacy protection,” said Richard Wells, Managing Director at Insight Partners.
“OneTrust’s strategic vision, stellar execution, and product innovation have shaped the company’s leadership in the privacy and compliance space, providing customers with the tools to implement their own best in class privacy, security, and third-party risk programs. We are looking forward to partnering with the OneTrust team to further accelerate growth and capitalize on their strong position in the market.”
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