ATLANTA, Feb. 20, 2020 /PRNewswire/ — Leading up to RSA Conference 2020, OneTrust today announced a $210 million Series B funding led by Coatue and Insight Partners. Following OneTrust's $200 million Series A, the new round brings the total investment to $410 million and valuation to $2.7 billion.
Watch the video: Kabir Barday, CEO and Blake Brannon, CTO, discuss OneTrust's rise to a $2.7 billion-valued leader in CCPA and privacy management software
Organizations are facing increased demands due to global privacy regulations like the California Consumer Privacy Act (CCPA), the EU's GDPR, and Brazil's LGPD. Creating privacy programs that responsibly use data while fulfilling global regulation requirements is a key priority for companies across the globe. In under four years, OneTrust has quickly emerged as the global leader in CCPA and global privacy technology to solve these global challenges, evidenced by significant adoption of the OneTrust technology platform. Key milestones include:
- 5,000 customers, both big and small across 100 countries
- Nearly half of the Fortune 500 are OneTrust customers
- 1,500 employees across 10 global offices
- 75 patents issued by the United States Patent and Trademark Office
- Expanded product offerings across OneTrust Privacy Management, OneTrust PreferenceChoice™ consent and preference management, OneTrust Vendorpedia™ third-party risk management, OneTrust GRC integrated risk management and OneTrust Ethics compliance and ethics software
- Forrester analyst firm named OneTrust a Leader in The Forrester New Wave™: GDPR and Privacy Management Software, Q4 2018
- Gartner analyst firm positioned OneTrust Vendorpedia as a "Leader" in the 2019 Magic Quadrant for IT Vendor Risk Management Tools
- OneTrust's CEO named a 2019 EY Entrepreneur of the Year Award winner in the United States
"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 Fellow 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."
"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."
OneTrust products will be available for demo next week at RSA Conference 2020 booths 4236, 5470 and 4424. For additional information, or to request a live OneTrust demo, visit OneTrust or email Info@OneTrust.com.
OneTrust is the #1 most widely used privacy, security and trust technology platform used by more than 5,000 companies to comply with the CCPA, GDPR, ISO27001 and hundreds of the world's privacy and security laws. OneTrust's primary offerings include:
- OneTrust Privacy Management Software
- OneTrust PreferenceChoice™ Consent and Preference Management Software
- OneTrust Vendorpedia™ Third-Party Risk Management Software and Cyber Risk Exchange
- OneTrust GRC Integrated Risk Management Software
- OneTrust Ethics compliance and ethics software
Coatue, founded by Philippe Laffont and Thomas Laffont in 1999, is one of the largest dedicated technology funds in the world with offices in New York, Menlo Park, San Francisco and Hong Kong. Coatue currently manages approximately $17 billion in assets on behalf of individuals, endowments, foundations, and other institutional investors.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.