Home GDPR #Privacy: OneTrust raises $210m Series B funding
GDPR - February 20, 2020

#Privacy: OneTrust raises $210m Series B funding

OneTrust has announced today that it has raised an additional $210 million in Series B funding, bringing OneTrust’s valuation to $2.7 billion. 

Following raising $200 million in Series A funding in July last year, the privacy, security and third-party risk platform company closed a $210 million Series B round led by Coatue and Insight Partners. 

The new round brings the total investment to $410 million and valuation to $2.7 billion. 

Since its launch in 2016, OneTrust has emerged as the global leader in CCPA and global privacy technology with over 5,000 customers across 100 countries, to which half are of the Fortune 500. 

Its 1,500 employees across 10 global offices has enabled OneTrust to achieve its significant growth. 

The Series B funding will allow OneTrust to support the increasing demands seen from the California Consumer Privacy Act (CCPA), EU’s GDPR, Brazil’s LGPD and hundreds of local regulations. 

In addition, this round will give OneTrust the ability to help its customers and partners meet their goals with its integrated privacy, risk and trust management technology, services and support. 

“OneTrust plans to use the combined funding to continue to invest in meeting the widespread demand for our technology platform,” said Kabir Barday, OneTrust CEO and Follow of Information Privacy (FIP). “We will scale our services, support, and partner ecosystem globally and add new capabilities to the platform through both organic and inorganic innovation.”

Just last year, Kabir Barday, was named EY Entrepreneur of the Year in the United States.

“Kabir and his team have achieved a meteoric adoption of the OneTrust technology platform around the world and are leaders in the privacy technology space,” said Thomas Laffont, co-founder of Coatue.  “We look forward to working with the talented OneTrust team to drive scale, further enhance their platform offerings, and capture the immense opportunities that continued regulatory adoption will create.”

“Our continued investment in OneTrust represents the value that businesses are placing on having the right tools to implement cost-effective and efficient privacy programs at scale,” said Richard Wells, Managing Director at Insight Partners. “With CCPA now in effect and other privacy laws to follow suit, we are thrilled to continue our partnership with OneTrust to bring value and operational expertise from our Insight Onsite team to help OneTrust ScaleUp.”

The post #Privacy: OneTrust raises $210m Series B funding appeared first on PrivSec Report.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Analysis: The Cyber Impact of Biden/Putin Summit Meeting

Experts Discuss Impact of ‘Transformational Moment’After U.S. President Joe Bi…