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Privacy Compliance Firm TrustArc Raises $70 Million

San Francisco-based privacy compliance and data protection firm TrustArc on Wednesday announced that it raised $70 million in a Series D funding round.

San Francisco-based privacy compliance and data protection firm TrustArc on Wednesday announced that it raised $70 million in a Series D funding round.

The latest funding round, which brings the total raised by the company to $107 million, was led by private equity firm Bregal Sagemount and it will help TrustArc accelerate privacy tech innovation and advance its position in the privacy market, which is expected to grow to $3 billion by 2025.

According to TrustArc, existing investors Accel Partners, DAG Ventures, Baseline Ventures, Industry Ventures and Icon Ventures will also continue to hold significant stakes in the company.

“We are very excited to bring on Sagemount as a strategic and financial partner. Given their prior success investing in market-leading, high-growth technology companies, we believe they are the right partner for the next phase of our growth,” said Chris Babel, CEO of TrustArc. “We have been building on our two decades of privacy leadership to design cutting edge technology solutions, and this significant growth investment will allow us to further help enterprises around the world navigate the rapidly evolving data privacy regulatory landscape.”

TrustArc provides solutions that help organizations be compliant with GDPR, CCPA and other data protection, including Fortune 100 customers such as AT&T, IBM and Alibaba.

Related: Cloud Data Protection Firm OwnBackup Raises $23 Million

Related: Cloud Data Protection Firm Druva Raises $130 Million

Related: Digital Guardian Announces $30 Million Financing Round

Related: Data Protection Firm BigID Raises $30 Million

Written By

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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