OneTrust, the leading provider of privacy, security, and compliance solutions, has announced the completion of a $150 million funding round. The company was valued at $4.5 billion in the round, representing a significant drop from its prior valuation of $5.3 billion.
The most recent funding round was led by existing investor Insight Partners. Other participants in the round included Accel, Coatue Management, Dragoneer Investment Group, and Durable Capital Partners. This brings OneTrust’s total funding to $1.35 billion, making it one of the highest-valued venture-backed companies in the space.
The massive fundraising round shows the continued confidence in the company and its products. OneTrust has been experiencing immense growth since its inception in 2016. In the last year alone, the company has doubled its revenue and grown its customer base to 40,000 customers in more than 130 countries including some of the world’s leading brands.
OneTrust’s cloud-based platform enables customers to streamline their privacy, security, and compliance requirements, while ensuring that they are remaining compliant with global regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).
The funds raised will be used to further accelerate OneTrust’s product development, as well as its marketing and sales efforts. These efforts are a part of the company’s larger goal of becoming the global privacy, security, and compliance hub for organizations across the globe.
The $150 million funding round clearly indicates the immense potential of the privacy, security, and compliance software market, as well as the trust and confidence investors have in the OneTrust platform. With its expanding customer base and new funds, OneTrust is well-positioned to solidify its leading position in the industry and to continue to help organizations protect their customers’ data and ensure that they remain compliant with global privacy regulations.