OneTrust recently announced a US$150 million funding round. The capital will bolster the company’s continued growth to meet customer demand for trust intelligence software. The round of funding was led by new investor Generation Investment Management with participation from existing investor Sands Capital, bringing the total funds raised to date to over $1 billion.
This latest funding comes as the company looks to reaffirm its position in the privacy market. The company recently ranked number one in worldwide market share for data privacy software according to the IDC’s Worldwide Data Privacy Compliance Software Market Shares report. As data privacy regulations expand and evolve worldwide, organisations are embracing privacy as a strategic imperative to meet compliance requirements and demonstrate differentiation.
“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,” said Kabir Barday, Founder, CEO, and Chairman of OneTrust. “We are focused on delivering strong customer experiences and will continue to evolve our platform as our customers’ needs grow. This funding is a testament to our sustained growth, market leadership, and customer-centric innovation. We are pleased to be working with Generation.”
“While critical to driving economic and sustainability progress, the proliferation of data comes with a host of unintended negative consequences, including data privacy and security issues,” added Joy Tuffield, Partner at Generation Investment Management. “With OneTrust’s software, companies can protect sensitive data and manage the increasing volume and complexity of regulatory issues. This investment demonstrates our confidence in the company’s vision, leadership, and ability to execute. We are excited to be partnering with OneTrust to make it easier for organisations around the world to demonstrate trust.”
“The data privacy compliance market continues to experience significant growth amidst increased regulatory activity,” said Ryan O’Leary, Research Director, Privacy and Legal Technology at IDC. “OneTrust continues to lead the market forward and capitalize on this emerging market. We are still in the early stages of this market, but it is poised for longevity.”
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