ATLANTA, July 24, 2023 /PRNewswire/ — OneTrust, the leading provider of trust intelligence software, has announced a successful $150 million funding round. This capital infusion will fuel OneTrust’s ongoing expansion to meet the growing demand for trust intelligence solutions from customers. Generation Investment Management, a new investor, led the round, with participation from existing investor Sands Capital. As a result, OneTrust has raised over $1 billion in total funds, and its current valuation stands at an impressive $4.5 billion.
This latest funding round comes at a time when OneTrust is solidifying its position as a leader in the privacy market. According to IDC’s “Worldwide Data Privacy Compliance Software Market Shares” report, OneTrust has ranked number one in global market share for data privacy software for the fourth consecutive year. The report, entitled “OneTrust Continues to Hold its Large Lead Over the Market,” highlights the company’s unwavering dominance in the industry. As data privacy regulations continue to expand and evolve globally, organizations are recognizing the strategic importance of privacy not only for compliance purposes but also for differentiation.
What sets OneTrust apart is its holistic approach to trust. Recognizing the increasing significance of trust in achieving business success, the Trust Intelligence Platform offered by OneTrust addresses various stakeholder demands, including privacy, security, ethics, and environmental, social, and governance (ESG) considerations. Furthermore, the platform is supported by extensive research and real-time regulatory intelligence spanning hundreds of jurisdictions, thereby enabling companies to navigate and adapt to regulatory requirements more effectively.
Kabir Barday, the founder, CEO, and chairman of OneTrust, emphasized the criticality of their solutions in the current landscape. With regulatory landscapes constantly changing and new business initiatives such as artificial intelligence (AI) gaining prominence, organizations require technology that can ensure trust is at the core of their operations while managing the complex web of privacy, security, ethics, and ESG requirements. Barday stated, “We are committed to delivering exceptional customer experiences and will continue to innovate our platform to meet the evolving needs of our customers. This funding round reaffirms our sustained growth, market leadership, and customer-centric approach. We are delighted to be partnering with Generation Investment Management.”
Joy Tuffield, a partner at Generation Investment Management, highlighted the challenges associated with the proliferation of data, including data privacy and security issues. She commended OneTrust’s software, which enables companies to safeguard sensitive data and navigate the increasing volume and complexity of regulatory challenges effectively. Tuffield also expressed confidence in OneTrust’s vision, leadership, and execution capabilities. She stated, “This investment demonstrates our belief in OneTrust’s ability to make it easier for organizations worldwide to establish trust.”
Ryan O’Leary, the research director for Privacy and Legal Technology at IDC, acknowledged the rapid growth of the data privacy compliance market in response to heightened regulatory activities. According to O’Leary, OneTrust is leading the market forward and capitalizing on this emerging trend. He added, “Although we are still in the early stages of this market, it is poised for long-term growth and success.”
In addition to Generation Investment Management, OneTrust’s existing investors include Insight Partners, Coatue, TCV, Sands Capital, and Franklin Templeton.
About OneTrust
OneTrust is a trust intelligence cloud platform that helps organizations transform trust into a measurable competitive advantage. Companies worldwide rely on OneTrust to responsibly use data and artificial intelligence while protecting individuals’ privacy rights, implement and report on their cybersecurity programs, achieve their social impact goals, and foster a culture of trust. With over 14,000 customers, including half of the Global 2,000 companies, OneTrust is at the forefront of trust intelligence technology. The company currently ranks 24th on Forbes’ Cloud 100 list of top private cloud companies worldwide and employs more than 2,000 people across North America, South America, Asia, Europe, and Australia.
IDC’s “Worldwide Data Privacy Compliance Software Market Shares, 2022: OneTrust Continues to Hold Its Large Lead Over the Market” report, published in May 2023, supports OneTrust’s dominance in the data privacy compliance software market.
In conclusion, OneTrust’s successful funding round reaffirms its position as the market leader for trust intelligence software. With its comprehensive approach to trust and its ability to adapt to evolving regulatory landscapes, OneTrust is poised for continued growth and success in the privacy market. The company’s strategic partnerships and significant funding raise are testaments to its vision, leadership, and customer-centric innovation. As organizations worldwide increasingly recognize the importance of trust, OneTrust’s solutions are well-positioned to help them address privacy, security, ethics, and ESG requirements effectively.