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OneTrust, a privacy management software company, has raised $300 million in a Series C funding round, bringing its valuation to $5.1 billion. The round was led by TCV, with participation from existing investors Insight Partners and Coatue. OneTrust plans to use the funding to expand its product offerings and accelerate its global growth.
OneTrust was founded in 2016 and has been successful in raising significant amounts of capital. In July 2019, the company raised $200 million in a Series A round, followed by a $210 million Series B round in February 2020. These rounds valued the company at $1.3 billion and $2.7 billion, respectively.
The company’s privacy management software helps organizations comply with data protection regulations and manage their privacy programs. OneTrust’s platform includes tools for data mapping, consent management, cookie compliance, and incident response, among others. The company serves a wide range of industries, including technology, financial services, healthcare, and retail.
With the increasing focus on data privacy and the implementation of stricter regulations, such as the EU’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), organizations are seeking solutions to manage their privacy obligations. OneTrust has positioned itself as a leader in this space, offering a comprehensive platform to address these needs.
The COVID-19 pandemic has also accelerated the demand for privacy management solutions as organizations have had to adapt to remote work and digital transformation. OneTrust has capitalized on this trend, experiencing significant growth in recent years.
Top things to Know
– OneTrust, a privacy management software company, has raised $300 million in a Series C funding round, bringing its valuation to $5.1 billion.
– The funding round was led by TCV, with participation from existing investors Insight Partners and Coatue.
– OneTrust plans to use the funding to expand its product offerings and accelerate its global growth.
– The company’s privacy management software helps organizations comply with data protection regulations and manage their privacy programs.
– OneTrust serves a wide range of industries, including technology, financial services, healthcare, and retail.
– The increasing focus on data privacy and the implementation of stricter regulations have created a demand for privacy management solutions.
– The COVID-19 pandemic has accelerated the need for privacy management solutions as organizations adapt to remote work and digital transformation.
Original article: https://techcrunch.com/2023/07/24/onetrust-hauls-in-another-150m-on-a-4-5b-down-round-valuation/
