Just seven months after completing a $200 million Series A round and reaching unicorn status, this Atlanta-based privacy startup has raised another round and hit another milestone.
OneTrust, a privacy, security and third-party risk technology platform, announced Thursday the company has raised $210 million in a Series B round, bringing it to a $2.7 billion valuation.
The round was led by Coatue and previous investor Insight Partners. To date, OneTrust has raised $410 million in funding and surpassed 5,000 customers.
“It’s really exciting to see how OneTrust has grown in just the past year,” Kabir Barday, CEO of OneTrust, told Atlanta Inno about the round. “The [California Consumer Privacy Act,] [General Data Protection Regulation] and other privacy laws across the globe like Brazil’s LGPD and Thailand’s PDPA have created a huge demand for our technology. Consumers are demanding privacy-centric approaches to data use, and businesses are responding. Already in 2020 we’ve seen the CCPA become law, privacy legislative activity in the U.S. and globally and moves from big tech companies to adopt more privacy-centric practices.”
Coatue was joined OneTrust’s round after recognizing the company’s vision and opportunity in the market, Barday said.
“We’re lucky to have the trust and support from our investors to fuel our growth, drive our product innovation and build our customer and partner success,” he said. “Insight Partners led our Series A and were a natural fit to continue to invest in the OneTrust platform. While the majority of the funds from our Series A are still available, we see significant opportunities for growth and want to move fast on any organic and inorganic growth opportunities we may see in the market and Coatue and Insight Partners are the right investors for us to continue on our trajectory.”