ATLANTA, Sept. 21, 2021 /PRNewswire/ -- OneTrust, the category-defining enterprise platform to operationalize trust, today announced it signed a definitive agreement to acquire Tugboat Logic, a technology platform that simplifies and automates information security assurance and audit readiness for dozens of security frameworks such as ISO 27001, SOC 2, CMMC, HIPAA, and PCI DSS.
As a part of OneTrust, Tugboat Logic will deliver a security platform companies can grow into. For smaller security teams, Tugboat Logic provides advanced automation and intelligence capabilities that help them build security programs and win business. As programs evolve, companies can mature into OneTrust's suite of enterprise GRC solutions that reduce the overhead and inefficiencies of legacy GRC tools. OneTrust will also accelerate Tugboat Logic's growth globally and into adjacent OneTrust offerings, including privacy, ethics and compliance, ESG, third-party risk, and data governance.
- Register for the webinar: OneTrust Acquires Tugboat Logic on Thursday, Oct. 7 at 11:00 am EDT / 4:00 pm BST / 8:00 am PDT
- Learn more at SaaStr Annual: Sept. 27-29 at San Mateo County Event Center at Booth #503
The GRC market is evolving beyond reactive, overly complex, and segmented approaches to quantifying and managing risk. Organizations of all sizes should have access to the competitive benefits of innovative solutions that demonstrate strong security practices. OneTrust is committed to simplified, automated, and data-driven risk management that better positions customers to demonstrate assurance, remain resilient, and improve governance throughout all stages of growth.
The planned addition of Tugboat Logic into the OneTrust portfolio adds a new entry point into the platform. Tugboat Logic helps growing companies – regardless of their size or maturity level – realize the business value and internal compliance benefits of achieving compliance standards like ISO 27001 and SOC 2. The AI-driven platform uses an automated framework to help companies from growing startups to enterprises regardless of security budgets use a simple, automated platform to gain the competitive advantage of security certifications.
Tugboat Logic's technology, 800 customers, and 140 employees will see increased investment as a part of OneTrust, building its solutions as a part of the community of over 10,000 OneTrust customers and 2,000 employees across 13 global offices.
"Any business that uses data is now a regulated business, and regardless of size, these companies are held to the same risk compliance and certification standards as sophisticated programs," said Kabir Barday, OneTrust CEO. "Tugboat Logic simplifies security assurance and certification automation to help growing companies easily demonstrate why they can be trusted and give a level of assurance about their security and compliance posture. We're excited to welcome Tugboat Logic into the OneTrust family and bring the competitive advantage of risk compliance to more companies around the globe."
"Enterprises of all sizes will benefit from this strategic move by both Tugboat Logic and OneTrust," said Ray Kruck, CEO and Founder of Tugboat Logic. "The combined companies will deliver the most complete security, privacy, and GRC offerings available today at compelling price points and backed by world-class subject matter experts. From the beginning, our vision for security assurance was to help companies get secure, build trust, and gain a competitive advantage. We're excited to now be able to realize that vision more fully together with OneTrust."
The acquisition is expected to close in September 2021, and financial details of the transaction were not disclosed.
For more information, register for the webinar on Thursday, Oct. 7 or visit us at SaaStr Annual Sept. 27-29 at San Mateo County Event Center Booth #503. For information or to request a demo, visit OneTrust.com or TugboatLogic.com.
OneTrust and Tugboat Logic are registered trademarks or trademarks of OneTrust LLC or its subsidiaries in the United States and other jurisdictions.
OneTrust is the category-defining enterprise platform to operationalize trust. More than 10,000 customers, including half of the Fortune Global 500, use OneTrust to make trust a competitive differentiator, implementing central agile workflows across privacy, security, data governance, GRC, third-party risk, ethics and compliance, and ESG programs.
The OneTrust platform is backed by 150 patents and powered by the OneTrust Athena™ AI and robotic automation engine, and capabilities include:
- OneTrust Privacy - Privacy Management Software
- OneTrust DataDiscovery™ - AI-Powered Discovery and Classification
- OneTrust DataGovernance™ - Data Intelligence Software
- OneTrust Vendorpedia™ - Third-Party Risk Exchange
- OneTrust GRC - Integrated Risk Management Software
- OneTrust Ethics - Ethics and Compliance Software
- OneTrust PreferenceChoice™ - Consent and Preference Management Software
- OneTrust ESG – Environmental, Social & Governance Software
In 2020, OneTrust was named the #1 fastest-growing company in America on the Inc. 500 with a 48,000% three-year growth rate. According to the IDC Worldwide Data Privacy Management Software Market Shares Report, 2020, "OneTrust is leading the market outright and showing no signs of slowing down or stopping."
OneTrust has raised a total of $920 million in funding at a $5.3 billion valuation from Insight Partners, Coatue, TCV, SoftBank Vision Fund 2, and Franklin Templeton. OneTrust's fast-growing team of 2,000 employees is co-headquartered in Atlanta and London with additional offices in Bangalore, Melbourne, Denver, Seattle, San Francisco, New York, São Paulo, Munich, Paris, Hong Kong, and Bangkok.
About Tugboat Logic
Tugboat Logic is the Security Assurance Platform that provides continuous compliance. Tugboat Logic provides automated technology to demystify the process of creating and managing an InfoSec program. With Tugboat Logic, companies can quickly get secure and prove it to customers. Powered by AI, Tugboat Logic's patented technology automates InfoSec policy creation, audit readiness, and security questionnaire response so companies can gain trust with customers and sell more. Tugboat Logic helps businesses prepare for audits in half the time and at a fraction of the cost, ensures they can respond to security questionnaires in minutes (not hours), and builds and scales their InfoSec plan in minutes. To learn more, visit TugboatLogic.com or connect on LinkedIn, Twitter, and YouTube.