From: RegTech Analyst
Data compliance developer OneTrust has more than doubled its valuation in a year to $2.7bn, after it closed a new $210m Series B.
This series investment was led by Coatue and supported by Insight Partners.
The RegTech company was previously valued at $1.3bn in July 2019 after it has closed a $200m Series A investment from private equity firm Insight Partners. OneTrust has managed to reach this high valuation within just four years of operations.
Having secured new capital, OneTrust will enhance its technology and further scale its services, support and partner ecosystem. Additionally, the company will add new capabilities through both organic and inorganic innovation.
The privacy and security company helps businesses around the world meet compliance with privacy regulations like the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). It achieves this through visibility, automation and record keeping tools.
The company has 5,000 customers spanning 100 counties and employs 1,500 people across its ten global offices.
Insight Partners managing director Richard Wells said, “Our continued investment in OneTrust represents the value that businesses are placing on having the right tools to implement cost-effective and efficient privacy programs at scale.
“With CCPA now in effect and other privacy laws to follow suit, we are thrilled to continue our partnership with OneTrust to bring value and operational expertise from our Insight Onsite team to help OneTrust ScaleUp.”