At the heart of the ever-evolving world of data governance is OneTrust, a company known for its innovative approach to data privacy and transparency.
Founded in Atlanta in 2016, the firm has quickly become a global name in the realm of data privacy and governance.
OneTrust’s latest stride comes in the form of a $150m funding round, which has now elevated the firm’s valuation to a whopping $4.5bn. This financial milestone has been achieved with the backing of leading investors including Generation Investment Management and Sands Capital, a previous investor in the company.
Diving into the essence of OneTrust, it offers a unique trust intelligence platform. This platform is designed to empower organisations with the ability to visualise, manage, and meet compliance requirements for the data that enters their sphere. With its suite of privacy and security compliance tools, OneTrust caters to organisations of all sizes, embedding a holistic approach to trust in their operations.
The fresh infusion of funds is set to support the company’s growth plans, meeting the escalating demand for its trust intelligence software. The firm is unyielding in its commitment to advancing data governance, security, privacy, and compliance.
Despite a valuation dip from last year’s $5.1bn and a reduction in workforce by 950 employees, OneTrust has managed to maintain an active customer base of over 14,000 – a number that has more than doubled since 2020. The firm currently has more than 2,000 employees and continues to influence the data governance landscape with its advanced solutions.
Reflecting on the significance of their mission, OneTrust founder, CEO, and chairman Kabir Barday stated, “Our solutions have never been more mission critical. In the face of changing regulations and new business initiatives like AI, organisations need the technology to drive trust to the centre of their operations and manage the complex web of privacy, security, ethics, and ESG requirements.”
In the firm’s journey thus far, the current funding round follows a hefty $300m Series C funding round closed in 2020, underscoring the investors’ growing confidence in OneTrust’s mission and capability.
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