OneTrust, a provider of privacy, security and data governance tools, announced a $300 million Series C funding round led by new investor TCV.
The company’s valuation has nearly doubled in the past ten months, jumping from $2.7 billion when the company announced its $210 million Series B round in early 2020, to a current valuation of $5.1 billion.
Announced just before the Christmas holiday, the Series C funding brings the total amount raised to a whopping $710 million since being founded in 2016.
OneTrust says that more than 7,500 customers, including more than half of the Fortune 500, use its technology to comply with ever-changing privacy, security, and compliance requirements.
“Our mission is to build the technology platform that creates the trust fabric of an organization, while addressing the hundreds of privacy, security, and compliance requirements they are faced with today,” said Kabir Barday, OneTrust CEO. “We were excited when TCV approached us for an investment. Even with most of our previously raised funds still available, their partnership allows us to further accelerate our mission, leverage our capital and currency to drive organic and inorganic growth, and deliver for our customers and partners long term.”
Existing investors, including Insight Partners and Coatue, joined TCV in the funding round.