From: RegTech Analyst
Data compliance company OneTrust has almost doubled its valuation for a second time this year on the back of a $300m Series C round pushing it past the $5.1bn mark.
That’s up from the $2.7bn valuation it secured on the back of its $210m Series B round in February, 2020. OneTrust had been valued at $1.3bn in July 2019 after a $200m Series A round.
New investor TCV led the Series C round and was joined by existing OneTrust investors Insight Partners and Coatue.
The round brings the total investment injected into OneTrust to $710m within the last 18 months.
Founded in 2016, OneTrust has since become one of the most widely used privacy, security and governance technology platform.
The RegTech company today serves over 7,500 customers, including more than half of the Fortune 500, and it has 1,500 employees spread out across 12 global offices.
“This makes its absolutely clear that privacy, trust, good governance, ethics and compliance is just critical and at the core of every organisation today,” said Kabir Barday, CEO and co-founder of OneTrust.
The company also attributed some of its growth to the accelerated digital transformation companies have been put through in 2020 due to the pandemic.
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