Data compliance startup OneTrust has hit a $1.3bn valuation thanks to a huge Series A investment round led by private equity house Insight Partners.
The company has sealed $200m in Series A capital, three years after it was founded to help organisations deal with the burden of increasingly complex compliance.
OneTrust aims to provide companies with management software to help it adhere to laws and standards including the European GDPR directive, California’s CCPA and ISO27001, including automating requirement such as the “right to be forgotten” and “do not sell”.
The company currently has more than 3,000 customers in over 100 countries.
Insight managing director Richard Wells said, “New privacy regulations, like the California Consumer Privacy Act and GDPR, are a direct market reaction to consumer demand for improved data privacy protection.
“OneTrust’s strategic vision, stellar execution, and product innovation have shaped the company’s leadership in the privacy and compliance space, providing customers with the tools to implement their own best in class privacy, security, and third-party risk programs.
“We are looking forward to partnering with the OneTrust team to further accelerate growth and capitalize on their strong position in the market.”
Last month Insight led a $120m Series D financing round for endpoint security software business SentinelOne.
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