Home Funding Atlanta unicorn OneTrust secures US$ 300 million investment from TCV

Atlanta unicorn OneTrust secures US$ 300 million investment from TCV

Atlanta unicorn OneTrust secures US$ 300 million investment from TCV
Atlanta unicorn OneTrust secures US$ 300 million investment from TCV

OneTrust, the marketing compliance and privacy management technology unicorn based in Atlanta, announced securing US$ 300 million funding at a US$5.1 billion valuation on 21th December 2020. 

This recent Series C funding round that brings the total investment of the company to US$ 710 million was led by one of the largest private equity enterprises TCV. The company is planning to use this investment towards research and development of the product and scaling their sales, engineering and marketing teams globally. 

The co-chairman of OneTrust, Alan Dabbiere said, “The Company will most probably stay independent and would go public, however nothing is yet set in stone. This is a defining moment in the trusted ethics. The customers care about all the aspects of the company which are beyond just product. We are a very important component for building trust that organizations have with their consumers.”

The company is not in the need to use all of the investment from the previous funding rounds but this fresh funding will help them to attract better talent to the organization and make strategic future acquisitions. OneTrust reduced around 10 to 15% of its global workforce due to the pandemic strain in April this year. They wanted to reset the valuation of the company and the only way for this was with a credible investor. The 300 million funding support from TCV will provide one trust more flexibility for making the better decisions on strategic acquisitions. It has already acquired four other technology enterprises which are not based in Atlanta. 

They are currently a team of 1,500 employees and around half of them are based in Atlanta itself. The additional offices of OneTrust are in London, Bangkok, San Francisco, Paris, Bangalore, Melbourne, Seattle, Hong Kong, Munich, New York and Sao Paulo. 

OneTrust technology empowers various security, governance and privacy programs.  Around 7500 plus customers use OneTrust for building integrated programs that comply with ISO27001, PDPA LGPD GDPR and CCPA and multiple other global privacy and security laws. Among these customers, more than half of the companies are in the fortune 500 list. 

OneTrust technology
OneTrust technology

OneTrust was founded in 2016, by Kabir Barday. It automates the data inventory mapping and privacy impact assessments, enforcing risk remediation actions for monitoring compliance in employee data, vendor and customer data transfers. OneTrust web based software is accessible on every device and provides a single interface for private interface to easily collaborate with vendors, business groups and advisors for managing privacy risks.

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