OneTrust this week closed an investment of $200 million led by Insight Partners. In the Series A investment, OneTrust is valued at $1.3 billion. OneTrust was founded in 2016.
OneTrust has scaled to serve more than 3,000 customers in over 100 countries with a team of 1,000 employees across 8 worldwide locations in 3 years.
According to OneTrust, organizations are facing the burden of having to comply with an increasingly complex set of privacy and security laws and standards in order to do business, most notably the California CCPA, European GDPR, ISO27001, and hundreds more. These laws require organizations to formalize how they keep track of personal data, have better decision making around their use of data, and provide transparency and choice to consumers.
OneTrust has was there to address these challenges through 3 primary software offerings: OneTrust Privacy Management Software (map and assess their data collection processes, respond to incidents, and automatically generate compliance reporting for any privacy law); OneTrust PreferenceChoice™ (consent and preference management software); and OneTrust Vendorpedia™ (vendor and third-party risk management software and vendor risk exchange.)
Products within these offerings are popularly used to automate CCPA and GDPR requirements of “right to be forgotten,” “access,” and “do not sell.”
OneTrust LLC is headquartered in Atlanta. Usercentrics, a competitor from Munich, also announced an funding this week.