Groups Similar Look up By Text Browse About



Similar articles
Article Id Title Prob Score Similar Compare
143065 TECHCRUNCH 2019-7-11:
OneTrust raises $200M at a $1.3B valuation to help organizations navigate online privacy rules
1.000 Find similar Compare side-by-side
143091 VENTUREBEAT 2019-7-11:
OneTrust raises $200 million at $1.3 billion valuation to help companies comply with data privacy laws
0.975 0.641 Find similar Compare side-by-side
142892 VENTUREBEAT 2019-7-10:
TrustArc raises $70 million to help companies implement privacy and compliance programs
0.619 0.602 Find similar Compare side-by-side
143048 TECHCRUNCH 2019-7-11:
Signavio raises $177M at a $400M valuation for its business process automation solutions
0.222 0.469 Find similar Compare side-by-side
143460 TECHCRUNCH 2019-7-15:
Customer data management company Amperity raises $50M
0.463 Find similar Compare side-by-side
143389 VENTUREBEAT 2019-7-15:
Amperity raises $50 million to unify disparate customer data
0.440 Find similar Compare side-by-side
142466 VENTUREBEAT 2019-7-8:
British Airways faces record $230 million GDPR fine over data breach
0.417 Find similar Compare side-by-side
142658 TECHCRUNCH 2019-7-9:
Signpost nabs $52M to help SMBs collect reviews and marketing collateral like bigger rivals
0.413 Find similar Compare side-by-side
142538 TECHCRUNCH 2019-7-8:
15Five raises $30.7M to expand its employee development toolkit
0.411 Find similar Compare side-by-side
142788 VENTUREBEAT 2019-7-10:
Pipefy raises $45 million for process pipeline management software
0.008 0.406 Find similar Compare side-by-side
142891 VENTUREBEAT 2019-7-10:
Vyopta Secures $7.5 Million in Series B Funding from Elsewhere Partners to Optimize Workplace Collaboration
0.010 0.405 Find similar Compare side-by-side
142479 TECHREPUBLIC 2019-7-8:
British Airways hit with £183M GDPR fine—could your business be next?
0.404 Find similar Compare side-by-side
142414 VENTUREBEAT 2019-7-8:
Employment Hero raises over $15 million to simplify employee onboarding
0.403 Find similar Compare side-by-side
142686 VENTUREBEAT 2019-7-9:
Lightico raises $14.5 million to help businesses complete transactions over the phone
0.395 Find similar Compare side-by-side
143153 TECHCRUNCH 2019-7-12:
As FTC cracks down, data ethics is now a strategic business weapon
0.058 0.394 Find similar Compare side-by-side
143263 VENTUREBEAT 2019-7-13:
How to be great at the CEO job — your top 6 questions answered
0.388 Find similar Compare side-by-side
142491 VENTUREBEAT 2019-7-8:
15Five raises $30.7 million for weekly employee evaluations
0.387 Find similar Compare side-by-side
142756 VENTUREBEAT 2019-7-10:
Lead from the top: What it takes to incorporate IoT into a legacy industry
0.385 Find similar Compare side-by-side
142760 VENTUREBEAT 2019-7-10:
Second Transform 2019 AI showcase highlights people and processes
0.005 0.385 Find similar Compare side-by-side
142625 VENTUREBEAT 2019-7-9:
Signpost raises $52 million to boost local business profiles
0.384 Find similar Compare side-by-side
142862 TECHCRUNCH 2019-7-9:
Remitly raises $220M to expand from money transfers to financial services, now at ~$1B valuation
0.383 Find similar Compare side-by-side
142614 VENTUREBEAT 2019-7-9:
Digital Shadows raises $10 million for its business risk intelligence platform
0.377 Find similar Compare side-by-side
142455 THEVERGE 2019-7-8:
British Airways faces record-breaking GDPR fine after data breach
0.375 Find similar Compare side-by-side
142696 TECHCRUNCH 2019-7-9:
Staffbase, the mobile-first employee communication and ‘experience’ platform, raises $23M Series C
0.370 Find similar Compare side-by-side
142699 VENTUREBEAT 2019-7-9:
The CapStreet Group Announces Investment in PCS Software
0.370 Find similar Compare side-by-side

1

ID: 143065

URL: https://techcrunch.com/2019/07/11/onetrust-raises-200m-at-a-1-3b-valuation-to-help-organizations-navigate-online-privacy-rules/

Date: 2019-07-11

OneTrust raises $200M at a $1.3B valuation to help organizations navigate online privacy rules

GDPR, and the newer California Consumer Privacy Act, have given a legal bite to ongoing developments in online privacy and data protection: its always good practice for companies with an online presence to take measures to safeguard peoples data, but now failing to do so can land them in some serious hot water. Now — to underscore the urgency and demand in the market — one of the bigger companies helping organizations navigate those rules is announcing a huge round of funding. OneTrust, which builds tools to help companies navigate data protection and privacy policies both internally and with its customers, has raised $200 million in a Series A led by Insight that values the company at $1.3 billion. Its an outsized round for a Series A, being made at an equally outsized valuation — especially considering that the company is only three years old — but thats because of the wide-ranging nature of the issue, according to CEO Kabir Barday, and OneTrusts early moves and subsequent pole position in tackling it. Were talking about an operational overhaul in a companys practices, Barday said in an interview. That requires the right technology and reach to be able to deliver that at a low cost. Notably, he said that OneTrust wasnt actually in search of funding — its already generating revenue and could have grown off its own balance sheet — although he noted that having the capitalization and backing sends a signal to the market and in particular to larger organizations of its stability and staying power. Currently, OneTrust has around 3,000 customers across 100 countries (and 1,000 employees), and the plan will be to continue to expand its reach geographically and to more businesses. Funding will also go toward the companys technology: it already has 50 patents filed and another 50 applications in progress, securing its own IP in the area of privacy protection. OneTrust offers technology and services covering three different aspects of data protection and privacy management. Its Privacy Management Software helps an organization manage how it collects data, and it generates compliance reports in line with how a site is working relative to different jurisdictions. Then there is the famous (or infamous) service that lets internet users set their preferences for how they want their data to be handled on different sites. The third is a larger database and risk management platform that assesses how various third-party services (for example advertising providers) work on a site and where they might pose data protection risks. These are all provided either as a cloud-based software as a service, or an on-premises solution, depending on the customer in question. The startup also has an interesting backstory that sheds some light on how it was founded and how it identified the gap in the market relatively early. Alan Dabbiere, who is the co-chairman of OneTrust, had been the chairman of Airwatch — the mobile device management company acquired by VMware in 2014 (Airwatchs CEO and founder, John Marshall, is OneTrusts other co-chairman). In an interview, he told me that it was when they were at Airwatch — where Barday had worked across consulting, integration, engineering and product management — that they began to see just how a smartphone could be a quagmire of privacy issues. We could capture apps that an employee was using so that we could show them to IT to mitigate security risks, he said, but that actually presented a big privacy issue. If [the employee] has dyslexia [and uses a special app for it] or if the employee used a dating app, youve now shown things to IT that you shouldnt have. He admitted that in the first version of the software, we werent even thinking about whether that was inappropriate, but then we quickly realised that we needed to be thinking about privacy. Dabbiere said that it was Barday who first brought that sensibility to light, and that is something that we have evolved from. After that, and after the VMware sale, it seemed a no-brainer that he and Marshall would come on to help the new startup grow. Airwatch made a relatively quick exit, I pointed out. His response: the plan is to stay the course at OneTrust, with a lot more room for expansion in this market. He describes the issues of data protection and privacy as death by 1,000 cuts. I guess when you think about it from an enterprising point of view, that essentially presents 1,000 business opportunities. Indeed, there is obvious growth potential to expand not just its funnel of customers, but to add more services, such as proactive detection of malware that might leak customers data (which calls to mind the recently fined breach at British Airways), as well as tools to help stop that once identified. While there are a million other companies also looking to fix those problems today, whats interesting is the point from which OneTrust is starting: by providing tools to organizations simply to help them operate in the current regulatory climate as good citizens of the online world. This is what caught Insights eye with this investment. OneTrust has truly established themselves as leaders in this space in a very short time frame, and are quickly becoming for privacy professionals what Salesforce became for salespeople, said Richard Wells of Insight. They offer such a vast range of modules and tools to help customers keep their businesses compliant with varying regulatory laws, and the tailwinds around GDPR and the upcoming CCPA make this an opportune time for growth. Their leadership team is unparalleled in their ambition and has proven their ability to convert those ambitions into reality. Wells added that while this is a big round for a Series A its because it is something of an outlier — not a mark of how Series A rounds will go soon. Investors will always be interested in and keen to partner with companies that are providing real solutions, are already established and are led by a strong group of entrepreneurs, he said in an interview. This is a company that has the expertise to help solve for what could be one of the greatest challenges of the next decade. Thats the company investors want to partner with and grow, regardless of fund timing.