The funding round also has participation from existing investors Insight Partners and Coatue, and brings OneTrust’s total money raised to $710 million in the last 18 months
OneTrust, the largest and most widely used privacy, security, and data governance technology platform, announced a $300 million Series C funding round. The funding values OneTrust, founded in 2016, at $5.1 billion and 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.
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.
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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.
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. Product offerings include:
- OneTrust Privacy – Privacy Management Software
- OneTrust DataDiscovery™ – AI-Powered Discovery and Classification
- OneTrust DataGovernance™ – Data Intelligence Software
- OneTrust Vendorpedia™ – Third-Party Risk Exchange
- OneTrust GRC – Integrated Risk Management Software
- OneTrust Ethics – Ethics and Compliance Software
- OneTrust PreferenceChoice™ – Consent and Preference Management Software
In less than 18 months, OneTrust raised $710 million in funding. Since its founding in 2016, OneTrust has grown to the largest and most widely used privacy, security, and governance technology and achieved the #1 spot on the 2020 Inc. 500 list of fastest-growing private companies.
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“OneTrust is leading the market outright and showing no signs of slowing down or stopping,” said 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. Other key analyst recognition includes:
- Leader in The Forrester Wave™: Privacy Management Software, Q1 2020 with the highest score in all three high level categories evaluated: strategy, current offering, and market presence.
- Leader in The Forrester Wave™: Third-Party Risk Management Platforms, Q4 2020 with the highest scores in strategy and market presence categories
- Leader in the Gartner Magic Quadrant for IT Vendor Risk Management Tools, August 2020
- Highest scores across all categories in the KuppingerCole Privacy & Consent Management Leadership Compass
- No. 1 most widely adopted consent management platform (CMP) for five consecutive quarters according to Kevel (formerly Adzerk)
“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,” said Kabir Barday, OneTrust CEO and Fellow of Information Privacy. “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.”
“Consumers and regulators are demanding that every company on the planet comply with complex and ever evolving privacy regulations,” said Tim McAdam, General Partner at TCV. “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.”
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