Funding will accelerate platform innovation as organizations scale trust across privacy, security, ethics, and ESG
ATLANTA, July 24, 2023 /PRNewswire/ -- OneTrust, the market-defining leader for trust intelligence, today announced a $150 million funding round. This capital will bolster OneTrust's continued growth to meet customer demand for trust intelligence software. The round 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 with a current $4.5 billion valuation.
This latest funding comes as OneTrust reaffirms its leadership position in the privacy market. The company recently ranked number one in worldwide market share for data privacy software for the fourth consecutive year, according to IDC's Worldwide Data Privacy Compliance Software Market Shares report, "OneTrust Continues to Hold its Large Lead Over the Market." As data privacy regulations expand and evolve across the globe, organizations are embracing privacy as a strategic imperative to not only meet compliance requirements but demonstrate differentiation.
OneTrust goes beyond data privacy to provide a holistic approach to trust. As trust becomes a critical determinant of business success, the Trust Intelligence Platform is the single solution organizations use to manage trust across stakeholder demands of privacy, security, ethics, and ESG. This is bolstered by extensive research and real-time regulatory intelligence across hundreds of jurisdictions, making it easier for companies to understand and adapt to regulatory requirements.
"Our solutions have never been more mission critical. In the face of changing regulations and new business initiatives like AI, organizations need the technology to drive trust to the center 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," said 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 organizations 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."
Generation Investment Management joins OneTrust's existing investors, including Insight Partners, Coatue, TCV, Sands Capital, and Franklin Templeton.
OneTrust is the trust intelligence cloud platform organizations use to transform trust from an abstract concept into a measurable competitive advantage. Organizations globally use OneTrust to enable the responsible use of data and AI while protecting the privacy rights of individuals, implement and report on their cyber security program, make their social impact goals a reality, and create a speak up culture of trust. Over 14,000 customers use OneTrust's technology, including half of the Global 2,000. OneTrust currently ranks #24 on the Forbes Cloud 100 list of top private cloud companies in the world and employs over 2,000 people in regions across North America, South America, Asia, Europe, and Australia.
IDC, Worldwide Data Privacy Compliance Software Market Shares, 2022: OneTrust Continues to Hold Its Large Lead Over the Market, Doc #US50209423, May 2023
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