SAN FRANCISCO, July 10, 2019 /PRNewswire/ -- TrustArc Inc, the leading global provider of privacy management solutions, today announced that it has received a $70 million Series D growth investment led by private equity firm, Bregal Sagemount, to further advance the company's leadership position in the privacy market. Existing investors Accel Partners, Baseline Ventures, DAG Ventures, Icon Ventures and Industry Ventures will continue to retain significant stakes in the business.
"We are very excited to bring on Sagemount as a strategic and financial partner. Given their prior success investing in market-leading, high-growth technology companies, we believe they are the right partner for the next phase of our growth," commented Chris Babel, CEO of TrustArc. "We have been building on our two decades of privacy leadership to design cutting edge technology solutions, and this significant growth investment will allow us to further help enterprises around the world navigate the rapidly evolving data privacy regulatory landscape."
"Companies are increasingly required to serve as fiduciaries of personal information. Their customers, supply chain partners, and vendors are more likely to provide such data to companies that have the policies and software to manage it properly," said Daniel Kim, Founding Partner at Bregal Sagemount. "TrustArc's privacy industry leadership has allowed it to build a unique suite of technology solutions to help companies differentiate themselves in today's regulatory environment."
"TrustArc is at the center of the rapidly growing privacy tech market which is part of a larger wave of innovation transforming regulatory compliance," said Andrew Braccia, Partner at Accel Partners. "Together with Sagemount we look forward to working with TrustArc to further enhance its solutions and expand into new markets worldwide."
Sagemount's investment was led by Daniel Kim, Arjun Mehta, and William Breskman. TrustArc was advised by DBO Partners, and Fenwick & West provided legal counsel. Goodwin Procter provided legal counsel to Bregal Sagemount.
TrustArc is the leader in privacy compliance and data protection solutions and offers an unmatched combination of innovative technology and TRUSTe certification solutions. TrustArc addresses all phases of privacy program management and has been delivering innovative privacy solutions for two-decades to some of the world's largest companies. The TrustArc platform leverages deep privacy expertise and proven methodologies, which have been continuously enhanced through thousands of customer engagements. Headquartered in San Francisco, and backed by a global team across the Americas, Europe, and Asia, TrustArc helps customers worldwide demonstrate compliance, minimize risk and build trust. For additional information visit www.trustarc.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with over $2 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.