TrustArc announced today that the raised $70 million in Series D funding, bringings its total raised to over $100 million.
“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,” commented Chris Babel, CEO of TrustArc.
The San Francisco-based company, simplifies privacy compliance for data protection regulations, including GDPR and CCPA, via innovative technology and TRUSTe certification solutions. The company has been delivering privacy solutions for two-decades to some of the world’s largest companies, additionally the TrustArc platform leverages deep privacy expertise and proven methodologies.
“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,” Babel added.
The funding is set to further advance innovation and security in the data privacy landscape, as well as advance the company’s leadership position in the privacy market. Existing investors Accel, Baseline Ventures, DAG Ventures, Icon Ventures and Industry Ventures will continue to retain significant stakes in the business.
“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,” said Daniel Kim, Founding Partner at Bregal Sagemount.
“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 is at the centre of the rapidly growing privacy tech market which is part of a larger wave of innovation transforming regulatory compliance,” says Andrew Braccia, Partner at Accel Partners. “Together with Sagemount we look forward to working with TrustArc to further enhance its solutions and expand into new markets worldwide.”
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