OneTrust, the #1 fastest-growing company on the Inc. 500 and category-defining enterprise platform to operationalize trust, today announced a $210 million Series C extension led by new investor SoftBank Vision Fund 2* with additional investment from Franklin Templeton. The extension brings the Series C round to $510 million and total funds raised to $920 million.
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OneTrust enables companies to operationalize trust through agile, centralized workflows across privacy, security, data governance, ethics and compliance, GRC, third-party risk, and ESG. More than 8,000 companies, including more than half of the Fortune 500, use OneTrust to make trust a competitive advantage, and deliver stakeholder value from managing the complex patchwork of privacy regulations, security requirements, ethics and compliance frameworks, and sustainability initiatives.
SoftBank Vision Fund 2’s investment adds a strategic geographical position in Japan as market demands accelerate in Asia Pacific and across the globe. Franklin Templeton brings deep asset management experience to investing in late-stage technology companies.
The funding equips OneTrust to bring the right technology and strategic partners into the platform that create the technology fabric of trust within an organization into a single operational workflow. Recently OneTrust announced plans to acquire ethics and compliance leader Convercent and added DocuVision’s Redacted.ai automated data redaction solution into the platform to better deliver on this mission for customers.
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“As more data is created and shared over the internet, consumer privacy and trust have become critical issues for companies globally,” said Ramzi Ramsey, Partner at SoftBank Investment Advisers. “We believe OneTrust is the leading enterprise platform leader that is providing data privacy and compliance needs for organizations of all sizes. We are pleased to partner with Kabir and the OneTrust team to support their mission to operationalize trust and expand into new markets.”
“OneTrust has built a powerful set of tools to help privacy, security and governance teams tackle the increasingly complex compliance challenges facing organizations today,” said Matthew Cioppa, Vice President, Franklin Equity Group. “Franklin Templeton is thrilled to back the OneTrust team, as they broaden the platform and strengthen their lead in the market that helps organizations build trust with their stakeholders.”
“The expansion of our Series C is a testament to the enterprise software market of trust we are building at OneTrust,” said Kabir Barday, CEO, OneTrust. “SoftBank and Franklin Templeton bring unique advantages to the OneTrust business and will help us further grow both organically and inorganically to build the platform of trust for our customers and partners.”
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